May’s reading missed forecasts, signaling weaker-than-expected growth in Spain’s factory sector amid easing momentum.
Spain’s manufacturing Purchasing Managers’ Index dropped to 51.2 in May, below the 52.0 consensus forecast. The reading indicates a slower expansion in factory activity, though it remains above the 50 threshold separating growth from contraction.
April’s PMI stood at 52.2, while economists had anticipated a modest decline to 52.0. The softer print suggests cooling demand or supply chain improvements may be weighing on production growth.
The data follows mixed signals from Europe’s manufacturing sector, with Germany and France also reporting subdued activity in recent months.