The HCOB Spain Composite PMI rose to 50.2 in May 2026 from 48.7 in April, pointing to a broad stabilisation in business conditions after a steep downturn in the prior month. Services activity leveled off after contracting in the month before, while output continued to rise, albeit more modestly. New orders were broadly unchanged, while employment continued to grow at a solid pace. Business confidence improved to a three-month high but remained below its long-term average. Input cost inflation accelerated to its strongest level since November 2022, whereas output price inflation eased to a three-month low, although it remained above historical levels. source: S&P Global

Composite PMI in Spain increased to 50.20 points in May from 48.70 points in April of 2026. Composite PMI in Spain averaged 51.93 points from 2018 until 2026, reaching an all time high of 62.40 points in June of 2021 and a record low of 9.20 points in April of 2020. This page provides - Spain Composite PMI- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Composite PMI in Spain increased to 50.20 points in May from 48.70 points in April of 2026. Composite PMI in Spain is expected to be 54.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Composite PMI is projected to trend around 53.00 points in 2027 and 52.90 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Bankruptcies 2064.00 2342.00 Companies Apr 2026
Business Confidence -3.70 -4.90 points May 2026
Capacity Utilization 79.50 80.10 percent Jun 2026
Car Production 1638.00 1708.00 Hundred Units Mar 2026
Car Registrations 106862.00 130340.00 Units Apr 2026
Cement Production 1566.48 1697.96 Thousands of Tonnes Apr 2026
Changes in Inventories 2433.00 2540.00 EUR Million Dec 2025
Composite Leading Indicator 100.75 100.90 points May 2026
Corruption Index 55.00 56.00 Points Dec 2025
Corruption Rank 49.00 46.00 Dec 2025
Electricity Price 98.30 0.44 EUR/MWh Jun 2026
Electricity Production 23368.06 22208.72 Gigawatt-hour Mar 2026
Industrial Production YoY 2.00 1.90 percent Apr 2026
Industrial Production Mom -0.40 2.40 percent Apr 2026
Manufacturing Production 1.90 2.80 percent Apr 2026
Mining Production 11.80 2.20 percent Apr 2026
Natural Gas Stocks Capacity 35.83 35.83 TWh Jun 2026
Natural Gas Stocks Injection 52.42 56.61 GWh/d Jun 2026
Natural Gas Stocks Inventory 26.41 26.37 TWh Jun 2026
Natural Gas Stocks Withdrawal 0.00 0.00 GWh/d Jun 2026
New Orders -9.50 -9.50 points Apr 2026
New Passenger Car Registrations YoY 8.40 11.70 percent Apr 2026
New Car Sales YoY 111894.00 106862.00 Units May 2026


Spain Composite PMI
The Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index. The weights reflect the relative size of the manufacturing and service sectors according to official GDP data. The Composite Output Index may be referred to as the ‘Composite PMI’ but is not comparable with the headline manufacturing PMI figure. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Spain’s Private Sector Shows Signs of Stabilization
The HCOB Spain Composite PMI rose to 50.2 in May 2026 from 48.7 in April, pointing to a broad stabilisation in business conditions after a steep downturn in the prior month. Services activity leveled off after contracting in the month before, while output continued to rise, albeit more modestly. New orders were broadly unchanged, while employment continued to grow at a solid pace. Business confidence improved to a three-month high but remained below its long-term average. Input cost inflation accelerated to its strongest level since November 2022, whereas output price inflation eased to a three-month low, although it remained above historical levels.
2026-06-03
Spain Private Sector Shrinks for 1st Time in Nearly 2-1/2-Years
The HCOB Spain Composite PMI fell to 48.7 in April 2026 from 52.4 in March, signalling the first contraction in the country's private sector since November 2023. The downturn was driven by the services sector, while manufacturing output continued to expand solidly. New orders declined as demand softened amid widespread uncertainty linked to the conflict in the Middle East, alongside growing concerns about inflationary pressures. Latest data showed historically sharp increases in both input and output prices. On the other hand, employment increased solidly, while confidence in the outlook was broadly unchanged.
2026-05-06
Spain Composite PMI Rises in March
The S&P Global Spain Composite PMI rose to 52.4 in March 2026 from 51.5 in February, signaling continued expansion in private sector activity. Growth was driven mainly by the services sector, as manufacturing output declined for a second consecutive month. Similar patterns were observed in new orders and employment, with services offsetting weakness in industry. Meanwhile, input cost inflation accelerated sharply, largely due to higher energy and fuel prices linked to the Middle East conflict. As a result, business confidence weakened significantly, falling to its lowest level since late 2022.
2026-04-07