Spanish factories are trying to
fill their warehouses with intermediate products
, since the
shortage of supplies
has already led some of them to have to
stop production
.
To prevent this from happening, they try to buy in advance what they will need in the coming months, despite
prices rising at historic rates.
The industry in Spain made efforts in December to
stock up
and fill its
stock
warehouses with
the raw materials and inputs
necessary for its production, in a forecasting exercise that in turn aggravates the tension in the global supply chain.
This is deduced from the latest
PMI index
published this Monday by the consulting firm Markit, which has detected in Spain an increase in challenges related to supply and prices in the
manufacturing sector.
Production growth increases, but new orders decrease;
Delivery times are lengthening at a considerable rate and
prices continue to rise in the sector,
according to the firm's key findings.
"The shortage of inputs imposed a certain
restriction on productive capacities
, and companies continued to make an effort to source inputs and
reinforce stocks whenever possible.
Such
anticipated purchase
of products is likely to exacerbate pressure on supply chains, as already tense, "admits
Paul Smith ,
Markit
's chief financial officer
.
Sales suffer
The PMI index stood at 56.2 in December, down from 57.1 in November, showing a
slowdown in the industrial sector.
"The pace of growth was the slowest recorded since last February amid some reports that the price increase is having an
adverse effect on sales levels,
" they explain.
The cost increases suffered by companies began to be transferred in December to the
rates charged to customers
.
In fact, the price increase for finished products was the highest in the series only slightly below that recorded in November.
"The companies surveyed commented that the vast majority of raw materials have risen in price, as have costs related to
energy, electricity and transport services,
" they noted.
Looking ahead, the country's industrial companies were
optimistic
and expect production to continue to rise in 2022. That prompted them to push through a hiring round and saw modest job growth.
However, they remain
concerned about supply problems and price increases
as factors that are likely to have an adverse impact on the performance of the sector in the coming months.
"Such concerns helped explain the continued
effort to stockpile any type of input available
at suppliers' units. The companies recorded the third strongest increase in stocks of raw materials and semi-finished products in the study's history in December. ", they emphasize.
According to the criteria of The Trust Project
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