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Start of 2023 brings softer downturn in Spain’s manufacturing sector
Spain's manufacturing sector remained firmly within contraction territory in the first month of 2023, albeit with business conditions deteriorating to a lesser extent than seen in each of the three months prior. Muted demand conditions remained a key theme in the latest survey and were reportedly largely responsible for sustained reductions in output, new orders, purchasing, and stocks of inputs. That said, rates of decline in each of the aforementioned indices softened from December to signal some tentative signs of market recovery. Firms were hopeful for an improvement in demand in the coming 12 months and ... (full story)