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. The decline is attributed to contractions in the economies of Germany and France, the two largest economies on the continent. However, there have been slight improvements in other countries such as Greece, Spain, and Italy. Despite this overall decline, 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, and the decline in manufacturing demand is partially offset by lower burdens on international markets.

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. Despite these challenges, there is optimism for recovery and growth through strategic investments and innovation.

By Sophia Gonzalez

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