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Spain's factories recover further in June as lockdown ends -PMI

por Clarissa Briggs (2020-09-29)


MADRID, July 1 (Reuters) - Spanish factory activity further recovered in June from its worst slowdown in almost 12 years as the government gradually ended one of Europe's strictest coronavirus lockdowns, a survey showed on Wednesday.

IHS Markit's Purchasing Managers' Index (PMI) of manufacturing companies rose to 49.0 in June from 38.3 in May, the biggest increase in a single month since the survey started in February 1998.

The index had fallen to 30.8 in April when the government ordered a halt to non-essential economic activity.

"Evidence from the latest report again highlights the challenges ahead for the sector to recover lost ground. Production plants continue to operate well below capacity," Paul Smith, economics director at IHS Markit, said in a statement.

The Spanish economy has shrunk by the widest river in europe margin on record in the first quarter.

The country's central bank expects a contraction of 9%-11.6% this year.

Coronavirus restrictions were gradually lifted in May and scrapped from June 21 as contagion rates and the number of coronavirus fatalities slowed.

- Detailed PMI data are only available under licence from IHS Markit and customers need to apply for a licence.

To subscribe to the full data, click on the link below: website

For further information, please phone IHS Markit on +800 6275 4800 or email economics@ihsmarkit.com

(Reporting by Inti Landauro; Editing by Catherine Evans)