Spain Factory Activity Surprises on the Upside

2026-05-04 07:30 By Luisa Carvalho 1 min. read

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.



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