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SPAIN: Flooding Impact Shows in PMI, But New Export Orders Growth Very Strong

SPAIN
CEEMEAEurozoneSpainBulletMarketsFixed Income BulletsForeign Exchange Bullets

From the slightly softer-than-expected Spanish PMI - in which flooding had a noteworthy impact:

  • "Output and new order growth both weakened, in part reflective of the heavy flooding that hit areas of Spain from late October onwards.
  • "Despite slowing, growth rates remained positive and underlying demand was reported to be strong. This was especially the case for international sales, with new export orders increasing to the greatest degree since September 2021. Neighbouring European countries were noted as sources of positive external demand."
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From the slightly softer-than-expected Spanish PMI - in which flooding had a noteworthy impact:

  • "Output and new order growth both weakened, in part reflective of the heavy flooding that hit areas of Spain from late October onwards.
  • "Despite slowing, growth rates remained positive and underlying demand was reported to be strong. This was especially the case for international sales, with new export orders increasing to the greatest degree since September 2021. Neighbouring European countries were noted as sources of positive external demand."