He growth The activity of Spanish factories accelerated during the month of October. This is confirmed by the manufacturing PMI index numbers, which rose to 52.1 points from 51.5 the previous month -the sector registers growth when figures greater than 50 are recorded-, according to S&P Global and Hamburg Commercial Bank.
The improvement in manufacturing PMI in October reflected simultaneous increases in both production and new orders. Nevertheless, The increase in demand was mainly due to domestic demandas new orders coming from abroad fell for the second consecutive month, highlighting the weakness of orders from France. “Under the surface of this encouraging growth, some signs of tension are emerging,” warned Jonas Feldhusen, junior economist at Hamburg Commercial Bank, who noted that political instability in France “appears to be increasingly weighing down economic activity, with repercussions for Spanish exporters,” as well as additional pressure related to US protectionist measures.
Increases in both production and new orders prompted companies to intensify your purchasing activity in the tenth month of the yearwhich grew at its strongest pace since December 2024. However, there was a reduction in its purchasing inventories, which decreased marginally for the fourth time in the last five months. At the same time, delays were also observed in the delivery of supplies, and average delivery times were longer than in September.
Regarding prices, a drop in input costs was recordedthe first in four months. The companies surveyed mentioned the drop in prices of various products, including some foodstuffs, paper and steel. In some cases, the cost reduction was passed on to customers through a decrease in sales prices, resulting in prices charged falling for the second consecutive month. In this sense, The expert has warned of the signals sent by the labor market, which is becoming cautiousas companies have reduced their hiring for the second consecutive month, although this reluctance to expand staff “seems to be less structural and more tactical.”
