The HCOB Spain Manufacturing PMI edged down to 49.2 in January 2026 from 49.6 in December, below market expectations of 49.9. This was the second straight month of contraction and the weakest reading since April 2025, weighed down by an accelerated decline in new orders. New export orders declined for a fifth month amid tariffs, a stronger euro against the US dollar, and weak demand from European markets. Despite this, production remained broadly unchanged, rising only slightly, which allowed firms to continue reducing their backlogs of work. Stocks of finished goods dropped for the fourteenth month, while purchasing activity was cut for a second month. Employment also fell for the fifth month in a row. On prices, input costs rose sharply, though intense competition and weak demand limited manufacturers’ ability to pass on these higher costs to customers. Still, manufacturers retained a notably optimistic outlook for the year ahead, anticipating a potential upswing in economic growth. source: S&P Global
Manufacturing PMI in Spain decreased to 49.20 points in January from 49.60 points in December of 2025. Manufacturing PMI in Spain averaged 50.86 points from 2011 until 2026, reaching an all time high of 60.40 points in June of 2021 and a record low of 30.80 points in April of 2020. This page provides the latest reported value for - Spain Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Manufacturing PMI in Spain decreased to 49.20 points in January from 49.60 points in December of 2025. Manufacturing PMI in Spain is expected to be 50.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Manufacturing PMI is projected to trend around 52.60 points in 2027 and 52.80 points in 2028, according to our econometric models.