The rate of selling price inflation was the softest in 28 months, the survey showed. Spain's consumer price inflation slowed sharply to 3.3% in March, its weakest annual rate since August 2021 and down from 6.0% in February, preliminary official data showed on Thursday. However, while new orders grew in Spain, export orders declined for the thirteenth consecutive month and at a stronger rate than in February, S&P Global noted. Spanish economic growth is expected to slow this year. The government has forecast an expansion of 2.1% after 5.5% in 2022, while the central bank and many analysts expect growth to be even slower. (Reporting by Andrei Khalip; Editing by Toby Chopra)
MADRID, April 3 (Reuters) - Factory activity in Spain
grew in March for the second month in a row, with the strongest
expansions in output and employment in over a year amid a drop
in inflationary pressures, a survey showed on Monday.
S&P Global's Purchasing Managers' Index (PMI) for Spanish
manufacturing rose to 51.3 last month from 50.7 in February. The
50.0 mark separates growth from contraction. February's
expansion was the first since June last year.
"March's PMI survey provided a whole host of positive news
with regards to the Spanish manufacturing sector," said
economist Laura Denman of S&P Global Market Intelligence.
She added that "perhaps the most pivotal findings within the
latest survey came from the first improvement in vendor
performance and the first fall in average operating expenses
since November 2019 and July 2020, respectively", expecting
further alleviation in these pressures over the coming months.
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