Lowest reading in 7-mth growth sequence (Il Sole 24 Ore Radiocor) - London , 02 Sep - In August, Spain's purchasing managers' index (PMI) for the manufacturing sector fell to 50.5 from 51.0 in July, according to data released by S&P Global and Hamburg Commercial Bank.

A reading above 50 signals expanding sector activity and a reading below 50 a contraction. The August reading was the lowest in the current seven-month growth sequence.

"The trends in Spain's manufacturing sector keep showing signs of weakening," commented Jonas Feldhusen, junior economist at Hamburg Commercial Bank. "Although the sector's index remains marginally above the critical 50-point threshold, currently positioned at 50.5, the recent three-month trajectory clearly indicates a move toward stagnation. This development is consistent with the broader global economic environment and does not come as a surprise.

Industrial sentiment across Europe, which had shown signs of improvement in the first half year, has recently experienced a downturn. Consequently, industrial demand within Spain, sourced from both domestic and international markets, is now limited to only marginal growth. Furthermore, production levels have declined for the first time since January, underscoring the sector's current challenges.".

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(RADIOCOR) 02-09-24 09:30:10 (0141) 5 NNNN