Spain's manufacturing sector sees weaker gains in output and new orders

[Spain flag waving]

* The seasonally adjusted HCOB Spain PMI recorded 51.5 in September, down sharply from August’s 54.3 to signal the slowest growth since June.
* Key findings include: Weaker gains in both output and new orders signalled; job losses registered for first time in seven months; modest input cost inflation as selling prices decline fractionally.
* “Spain’s manufacturing sector is facing a temporary setback, as indicated by the HCOB PMI data for September. Although the sector’s growth momentum decelerated, the broader upward trend seems to remain intact. In line with the headline index, manufacturing output softened, though it’s important to note that August saw an unusually strong rise in production. Against this backdrop, the current slowdown should not be overinterpreted. Supporting this view, inventories of raw materials have increased for the first time in four months. This suggests that both sales and production may have fallen short of corporate expectations." said [https://www.pmi.spglobal.com/Public/Home/PressRelease/7645e18d95ff459d8d9a0c9c5390a429] Jonas Feldhusen, Junior Economist at Hamburg Commercial Bank.
* ETFs: (NYSEARCA:EWP [https://seekingalpha.com/symbol/EWP]), (NASDAQ:EUFN [https://seekingalpha.com/symbol/EUFN])

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