FX.co ★ Spain's Factory Sector Downturn Intensifies

In April 2025, the HCOB Spain Manufacturing PMI decreased further to 48.1, down from 49.5 in March, falling short of the anticipated 50. This recent figure highlights a third consecutive decrease in manufacturing activity, signifying the most significant decline since the conclusion of 2023. The downturn was primarily fueled by a reduction in output, marking its first decrease since August 2024, largely due to weaker demand. New orders fell for the third month in a row, with the quickest decline seen since the end of 2023, as market instability and uncertainty related to tariffs weighed heavily. Meanwhile, the employment index has exhibited minimal movement over the past four months.