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Germany and France hinder industrial activity in the EU in March, despite Spain’s improvement | Economy

The European industry is facing challenges as the industrial production index (PMI) in the euro zone fell in March, reaching its worst figure in three months. However, despite the overall decline, there have been slight improvements in other countries such as Greece, Spain, and Italy.

The decline in manufacturing demand is partially offset by lower burdens on international markets. Despite this, the Eurozone manufacturing production PMI had its best reading in 11 months in March, indicating that the sector is not yet in recession. New orders are slowing down at a slower pace than expected.

The Spanish industry is also struggling, with a 1.6% decrease in turnover in manufacturing activity. This decline, the largest in a decade without considering the pandemic year, is attributed to economic cooling, rising raw material costs, and geopolitical uncertainty. Entrepreneurs are looking to investment in digitalization and green transition to overcome stagnation in the sector.

The industry’s crisis is in line with the challenges faced by the rest of the euro zone, particularly with Germany in recession. However, despite these challenges, there is optimism for recovery and growth through strategic investments and innovation.

By Samantha Jones

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