Spain's industrial confidence indicator slumped to -5.3 in September 2019 from a revised 1.3 in the previous month. That was the lowest reading since January 2015, ahead of the country's fourth general election in four years in November. New orders tumbled (-7.1 vs -0.2 in August) and output expectations deteriorated (2.4 vs 6.0) while stocks of finished products increased sharply (11.1 vs 1.9). Business Confidence in Spain averaged -10.42 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 -0.40 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.