Spain Business Confidence Hits Near 3-1/2-Year High

2026-09-29 11:28 By Luisa Carvalho 1 min. read

The seasonally adjusted industrial confidence indicator in Spain came in at -1.6 in September 2026, up from -3.8 in the prior month.

Although the indicator remained slightly below the neutral level, it reached its highest level since April 2023.

It also remained above its long-term average.

The 2.2-point monthly rise reflected a 1.9-point increase in production expectations, a 0.5-point rise in the order-book balance and a 4.2-point decline in stock levels.

Production expectations, the only forward-looking component of the three underlying measures, recovered the decline recorded in August and moved back above their long-term average, while the order-book balance continued its broad upward trend, reaching its highest level since March 2023 and standing four points above its average since 2024.

Stock levels fell significantly after rising for the previous three months.



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Spain Business Confidence Hits Near 3-1/2-Year High
The seasonally adjusted industrial confidence indicator in Spain came in at -1.6 in September 2026, up from -3.8 in the prior month. Although the indicator remained slightly below the neutral level, it reached its highest level since April 2023. It also remained above its long-term average. The 2.2-point monthly rise reflected a 1.9-point increase in production expectations, a 0.5-point rise in the order-book balance and a 4.2-point decline in stock levels. Production expectations, the only forward-looking component of the three underlying measures, recovered the decline recorded in August and moved back above their long-term average, while the order-book balance continued its broad upward trend, reaching its highest level since March 2023 and standing four points above its average since 2024. Stock levels fell significantly after rising for the previous three months.
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