(Il Sole 24 Ore Radiocor) - Milano, 4 mag - In April, Spain's purchasing managers' index for the manufacturing sector rose to 51.7 from 48.7 in March, signalling a modest improvement in operating conditions for the first time since last November, according to data released by S&P Global.

A reading above 50 signals expanding sector activity while one below a contraction.

'Spain's manufacturing sector recorded growth of both output and new orders in April, marking a positive reversal from March's outturn. However, lift the lid on the latest data and growth was in part supported by client inventory building as firms raced to secure goods given the product shortages and supply disruption caused by the war in the Middle East.

Overall, sentiment remains historically low, and firms are expressing notable uncertainty in the outlook," commented Paul Smith, economics director at S&P Global Market Intelligence.

'Moreover, amid the energy shock and supply disruption, input prices are rising at a severe rate and to a degree not seen since mid-2022. Crucially the level of pass through was also significant, with selling price inflation picking up to its fastest level in just short of three and-a-half years.

Although there remains significant uncertainty on the length and duration of the price and supply shock, the willingness of a notable number of firms to raise their prices increases the possibility of second round inflation effects already.

being in play."

(RADIOCOR) 04-05-26 09:35:37 (0134) 5 NNNN