Spain’s industrial climate indicator dropped to a five month-low of -4.1 in January of 2019 from a downwardly revised -2.8 in the previous month as new orders fell further (-4.7 from -1.1 in December) and stocks of finished products decreased (11.6 from 12.5). Meanwhile, output expectations were lowered but remained at positive levels (3.9 from 5.3). Business Confidence in Spain averaged -10.55 Index Points from 1980 until 2019, reaching an all time high of 8.50 Index Points in September of 1997 and a record low of -39 Index Points in March of 2009.
Business Confidence in Spain is expected to be -10.20 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Spain to stand at -8.00 in 12 months time. In the long-term, the Spain Business Confidence is projected to trend around -6.00 Index Points in 2020, according to our econometric models.