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. source: S&P Global

Composite PMI in Spain increased to 52.40 points in March from 51.50 points in February of 2026. Composite PMI in Spain averaged 51.98 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 52.40 points in March from 51.50 points in February 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 3897.00 3614.00 Companies Jan 2026
Business Confidence -4.20 -2.70 points Mar 2026
Capacity Utilization 80.10 79.80 percent Mar 2026
Car Production 1480.00 1367.00 Hundred Units Jan 2026
Car Registrations 97082.00 73103.00 Units Feb 2026
Cement Production 1405.64 1261.69 Thousands of Tonnes Feb 2026
Changes in Inventories 2433.00 2540.00 EUR Million Dec 2025
Composite Leading Indicator 101.37 101.27 points Mar 2026
Corruption Index 55.00 56.00 Points Dec 2025
Corruption Rank 49.00 46.00 Dec 2025
Electricity Price 44.48 0.44 EUR/MWh Apr 2026
Electricity Production 22195.83 25914.35 Gigawatt-hour Feb 2026
Industrial Production YoY -1.10 -0.20 percent Feb 2026
Industrial Production Mom -0.10 -0.70 percent Feb 2026
Manufacturing Production -1.20 -1.60 percent Feb 2026
Mining Production -8.30 -4.30 percent Feb 2026
Natural Gas Stocks Capacity 35.83 35.83 TWh Apr 2026
Natural Gas Stocks Injection 133.40 133.40 GWh/d Apr 2026
Natural Gas Stocks Inventory 21.84 21.71 TWh Apr 2026
Natural Gas Stocks Withdrawal 0.00 0.00 GWh/d Apr 2026
New Orders -7.30 -8.80 points Jan 2026
New Passenger Car Registrations YoY 11.70 7.50 percent Mar 2026
New Car Sales YoY 130340.00 97084.00 Units Mar 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 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
Spain’s Private Sector Growth Slows to Nine-Month Low
The HCOB Spain Composite PMI fell to 51.5 in February 2026 from 52.9 in January, signaling the slowest expansion in Spain’s private sector since May 2025. The slowdown was driven by weaker momentum in the services sector and a renewed contraction in manufacturing output. Similar patterns emerged in both new orders and employment, with growth moderating across services and declining in manufacturing. Meanwhile, inflationary pressures intensified. Firms reported faster increases in both input costs and output prices, pointing to a pickup in private sector inflation. Business confidence also weakened, with expectations for future activity slipping to a six-month low.
2026-03-04
Spain Composite PMI Falls in January
The HCOB Spain Composite PMI fell to 52.9 in January 2026 from 55.6 in December, marking the slowest pace of growth since last June. Private sector new work expanded at a reduced rate, weighed down by a decline in manufacturing new orders and slower growth in services activity. Employment, however, rose more sharply, driven by strong gains in the services sector. Input cost inflation accelerated to its highest level since August, while output prices increased at the fastest pace in three months. Business confidence in the year-ahead outlook strengthened to a 12-month high.
2026-02-04