1、Good prospects for Spains manufacturing industry2023Sector ReportManufacturing IndustryHow will higher interest rates impact Spains manufacturing sector in 2023?The shock of bottlenecks on Spanish industryHow rising costs have affected industrySECTOR REPORT Manufacturing Industry 2023The Sector Repo

2、rt is a publication produced by CaixaBank ResearchCaixaBank Research Enric Fernndez Chief Economist Jos Ramn Dez Director of International Economies and Markets Oriol Aspachs Director of the Spanish Economy Sandra Jdar Director of Bank Strategy Javier Ibez and Pedro lvarez Coordinators of the Manufa

3、cturing Industry Sector Report Closing date for this issue:18 May 20232023SummaryQuality means doing it right when no-one is looking.HENRY FORD11HOW WILL HIGHER INTEREST RATES IMPACT SPAINS MANUFACTURING SECTOR IN 2023?We analyse the financial position of Spains different branches of manufacturing i

4、n an attempt to determine to what extent theyre exposed to the tighter financial conditions resulting from the ECBs interest rate hike.22 THE SHOCK OF BOTTLENECKS ON SPANISH INDUSTRYDisruptions in global supply chains from the end of 2020,due to COVID-19 and the war in Ukraine,affected activity in s

5、ome branches of manufacturing in the second half of 2021 and in 2022.02 A YEAR OF GOOD PROSPECTS FOR MANUFACTURING Spains manufacturing sector has overcome a 2022 that was hit hard by the energy crisis and supply problems,preventing it from getting back to its pre-pandemic levels.Although the econom

6、ic situation is still highly uncertain,the outlook is somewhat more favourable in 2023.17 HOW RISING COSTS HAVE AFFECTED INDUSTRYRising prices for raw materials and intermediate goods have affected the operating costs of manufacturers,forcing them to pass on part of this increase to their customers.