The Spanish business confidence index increased to -2.3 in March 2019 from a downwardly revised -4.7 in February. It was the highest reading in industrial morale since November of 2018, as expectations for production rose significantly (5.4 from -2.1 in February) and new orders improved (-6.1 from -6.7), in particular export orders (-6.6 from -8.2). On the other hand, an increase was seen in stocks of finished goods (6.2 from 5.4) and the current level of output decreased (-3.0 from -0.3) while employment expectations fell slightly (2.5 from 2.6). Business Confidence in Spain averaged -10.52 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 -6.20 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.