Spain Business Pessimism Softens

The seasonally adjusted industrial confidence indicator in Spain rose to -2.4 in June of 2026 from from -3.7 in the prior month, marking the highest reading since September 2024. Production expectations rebounded strongly (-4.5 vs -1.5 in May) and stocks increased faster (4.3 vs 2.6), despite the deterioration in new orders (-7.3 vs -6.9) and export orders (-15.1 vs -14.9). At the same time, the inflation outlook improved, with price pressures expected to ease (10.4 vs 18.7).

The seasonally adjusted industrial confidence indicator in Spain inched higher to -3.7 in May of 2026 from the seven-month low of -4.9 in April. Pessimism around new orders softened (-6.8 vs -9 in April) despite remaining elevated, as energy prices stabilized below their peak following the war in Iran. Likewise, production expectation pessimism eased (-1.7 vs -2.5). In turn, stocks levels dropped slightly (2.6 vs 3.1).

Spain’s seasonally adjusted industrial confidence indicator fell further to -5 in April 2026, the lowest since August 2025, from the upwardly revised -4.3 in the prior month. This reflected weaker production expectations (-2.4 vs 1 in March) amid sustained pressure on order books (-9.5 vs -9.5). Export orders also fell sharply (-26.2 vs -17.9) and stock levels declined (3.1 vs 4.4). Furthermore, the inflation outlook worsened, with price pressures expected to climb (26.5 vs 20.6).