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Spanish PMI all about capacity constraints


The Spanish PMI manufacturing came in just one tenth lower than expected.

The press release almost entirely focused on supply issues, the lengthening of wait times for inputs and related issues. However there was one bright spark:

  • "Finally, looking ahead to the coming 12 months, manufacturers were more optimistic than in August, with overall business confidence its best since June. Positive projections for order books, an end to the pandemic and the planned launch of new products were all reasons to be hopeful, though supply-side constraints and their inflationary effects remained a concern for several panellists."

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