The S&P Global Spain Manufacturing PMI rose to 51.7 in April 2026 from 48.7 in March, surpassing market forecasts of 49.5. The latest data signals a return to growth in manufacturing activity for the first time since last November, driven by a solid rise in production, which increased at its fastest pace in five months. This was supported by a slight rebound in new orders following March’s sharp contraction, partly reflecting inventory accumulation as clients sought to secure goods amid product shortages and supply disruptions linked to the Middle East war. Export orders continued to decline for the eighth consecutive month, though at a slower pace, highlighting underlying demand fragility. Purchasing activity and employment decreased again. Price pressures intensified, with input costs rising at the fastest rate since June 2022 and selling prices increasing at their steepest since November 2022. Sentiment remained historically weak, with firms highly uncertain about the outlook. source: S&P Global

Manufacturing PMI in Spain increased to 51.70 points in April from 48.70 points in March of 2026. Manufacturing PMI in Spain averaged 50.85 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 increased to 51.70 points in April from 48.70 points in March of 2026. Manufacturing PMI in Spain is expected to be 51.50 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.



Related Last Previous Unit Reference
Bankruptcies 2342.00 2544.00 Companies Mar 2026
Business Confidence -5.00 -4.30 points Apr 2026
Capacity Utilization 80.10 79.80 percent Mar 2026
Car Production 1638.00 1708.00 Hundred Units Mar 2026
Car Registrations 130340.00 97082.00 Units Mar 2026
Cement Production 1697.96 1405.64 Thousands of Tonnes Mar 2026
Changes in Inventories 2433.00 2540.00 EUR Million Dec 2025
Composite Leading Indicator 101.23 101.29 points Apr 2026
Corruption Index 55.00 56.00 Points Dec 2025
Corruption Rank 49.00 46.00 Dec 2025
Electricity Price 57.75 0.44 EUR/MWh May 2026
Electricity Production 23368.06 22208.72 Gigawatt-hour Mar 2026
Industrial Production YoY 1.80 -0.90 percent Mar 2026
Industrial Production Mom 2.30 -0.10 percent Mar 2026
Manufacturing Production 2.70 -0.90 percent Mar 2026
Mining Production 1.30 -8.00 percent Mar 2026
Natural Gas Stocks Capacity 35.83 35.83 TWh May 2026
Natural Gas Stocks Injection 123.96 114.31 GWh/d May 2026
Natural Gas Stocks Inventory 24.30 24.18 TWh May 2026
Natural Gas Stocks Withdrawal 0.00 0.00 GWh/d May 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 106862.00 130340.00 Units Apr 2026


Spain Manufacturing PMI
The S&P Global Spain Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 400 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. 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 Factory Activity Surprises on the Upside
The S&P Global Spain Manufacturing PMI rose to 51.7 in April 2026 from 48.7 in March, surpassing market forecasts of 49.5. The latest data signals a return to growth in manufacturing activity for the first time since last November, driven by a solid rise in production, which increased at its fastest pace in five months. This was supported by a slight rebound in new orders following March’s sharp contraction, partly reflecting inventory accumulation as clients sought to secure goods amid product shortages and supply disruptions linked to the Middle East war. Export orders continued to decline for the eighth consecutive month, though at a slower pace, highlighting underlying demand fragility. Purchasing activity and employment decreased again. Price pressures intensified, with input costs rising at the fastest rate since June 2022 and selling prices increasing at their steepest since November 2022. Sentiment remained historically weak, with firms highly uncertain about the outlook.
2026-05-04
Spain Manufacturing Sector Contracts in March
The S&P Global Spain Manufacturing PMI fell to 48.7 in March 2026 from 50 in February, marking the weakest reading since April 2025 and missing market expectations of 50.4. The Middle East conflict intensified, driving geopolitical uncertainty, supply chain disruption and sharply higher energy and input costs. Output and new orders declined at a faster pace, with international demand posting its steepest drop since last April, while employment fell notably as firms adjusted to weaker conditions. Business confidence deteriorated sharply, hitting its lowest level since October 2023, as firms cited concerns over prolonged economic slowdown and rising inflation. Input prices surged to their highest since late 2022, supplier delays worsened to the greatest extent in over three years, and companies increasingly relied on existing inventories while cutting purchases and raising selling prices where possible.
2026-04-01
Spain Factory Sector Shows Signs of Stabilization
The HCOB Spain Manufacturing PMI rose to 50 in February 2026 from a nine-month low of 49.2 in January, largely in line with analysts' estimates of 50.1. The latest data pointed to a stabilization in business conditions, following two successive months of contraction. New orders, employment, and purchasing activity continued to decline, though at a slower pace than in January, encouraging goods producers to keep their output relatively stable in February. However, export demand remained a challenge, with companies citing the adverse impact of US tariffs and the strong euro. In terms of price dynamics, input inflation accelerated to a 13-month high amid higher costs for various raw materials. In response, manufacturers raised their output charges for the first time since August last year, though only marginally due to ongoing competitive pressures. Lastly, the outlook for the year ahead remained optimistic, on hopes of improving demand, successful investments and expansion abroad.
2026-03-02