Spain HCOB Manufacturing PMI

Info

History

Chart

Impact:

Medium

Latest Release:

Surprise:

EUR-0.4

EUR

Actual:

53.1

Forecast: 53.5

Previous/Revision:

54.5

Period: Dec 2024

Next Release:

Forecast: 53.5

Period: Jan 2025

What Does It Measure?

The Spain HCOB Manufacturing PMI measures the health of the manufacturing sector in Spain, with a focus on production levels, new orders, employment, supplier delivery times, and inventories. This index is a key indicator of manufacturing industry trends, where a reading above 50 indicates expansion, and below 50 signifies contraction, making it a national-level economic indicator.

Frequency

The Spain HCOB Manufacturing PMI is released on a monthly basis, typically within the first week of the month, and it is often presented as a preliminary estimate before being finalized.

Why Do Traders Care?

Traders closely watch the Spain HCOB Manufacturing PMI because it reflects changes in economic activity and business conditions within one of the Eurozone's major economies. Positive or higher-than-expected PMI figures can boost confidence in the euro and equity markets, whereas lower readings may lead to bearish market reactions, impacting financial forecasts and investment decisions.

What Is It Derived From?

The indicator is derived from survey responses collected from purchasing managers in the manufacturing industry, who provide insights into new orders, production, employment, supplier delivery times, and stocks of purchases. Using a diffusion index methodology, responses are weighted to create an aggregated score reflecting overall manufacturing conditions.

Description

Spain HCOB Manufacturing PMI is a critical gauge of the manufacturing sector's vitality within the Spanish economy. Preliminary data is collected through surveys, providing an early snapshot that can cause immediate market movements, while final data, released later, offer a more refined view, often reinforcing or slightly adjusting initial estimates. The manufacturing PMI is typically reported on a month-over-month basis to highlight short-term changes and capture sudden shifts in the manufacturing sector's performance. Traders prefer this measure as it is more sensitive to recent developments compared to quarter-over-quarter or year-over-year comparisons, thereby allowing for timely analysis of economic trends.

Additional Notes

The Spain HCOB Manufacturing PMI serves as a leading economic indicator, meaning it can signal future economic activity based on current manufacturing conditions. It is often compared with other national and regional PMIs, thus providing a broader context of Spain's manufacturing performance within Europe and globally.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for EUR, Bullish for Stocks. Lower than expected: Bearish for EUR, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the ‘Actual’ value differs enough from the forecast or if the ‘Previous’ value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the ‘Actual’ deviates from the forecast or there’s a notable revision to the ‘Previous’ value.

Medium Potential Impact
This event is unlikely to affect market pricing unless there’s an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
'Actual' deviated from 'Forecast' on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
'Actual' deviated from 'Forecast' on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency.

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Dec 02, 2024	53.1	53.5	54.5	-0.4
Nov 04, 2024	54.5	53.1	53	1.4
Oct 01, 2024	53	50.1	50.5	2.9
Sep 02, 2024	50.5	51.5	51	-1
Aug 01, 2024	51	52.5	52.3	-1.5
Jul 01, 2024	52.3	53	54	-0.7
Jun 03, 2024	54	52.5	52.2	1.5
May 02, 2024	52.2	50.8	51.4	1.4
Apr 02, 2024	51.4	51	51.5	0.4
Mar 01, 2024	51.5	50	49.2	1.5
Feb 01, 2024	49.2	48	46.2	1.2
Jan 02, 2024	46.2	47	46.3	-0.8
Dec 01, 2023	46.3	45.5	45.1	0.8
Nov 02, 2023	45.1	47	47.7	-1.9
Oct 02, 2023	47.7	46.5	46.5	1.2
Sep 01, 2023	46.5	48.8	47.8	-2.3
Aug 01, 2023	47.8	48.3	48	-0.5
Jul 03, 2023	48	47.7	48.4	0.3
Jun 01, 2023	48.4	47.8	49	0.6
May 02, 2023	49	49	51.3