The HCOB Spain Composite PMI fell to 53.7 in August 2025 from 54.7 in the prior month, indicating a softening of overall private sector growth. While the services sector expanded at a slower pace, manufacturing output increased at its fastest rate since last October, helping to partially offset the deceleration. Meanwhile, new orders rose at a faster rate, which helped to drive a solid rise in staffing levels. Capacity remained under pressure nonetheless as signaled by the steepest increase in backlogs of work recorded in the year to date. On the price front, both input and output charges increased at quicker pace. Finally, business confidence improved to a five-month high. source: S&P Global

Composite PMI in Spain decreased to 53.70 points in August from 54.70 points in July of 2025. Composite PMI in Spain averaged 51.83 points from 2018 until 2025, 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 decreased to 53.70 points in August from 54.70 points in July of 2025. Composite PMI in Spain is expected to be 54.00 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 52.90 points in 2026 and 52.50 points in 2027, according to our econometric models.



Related Last Previous Unit Reference
Bankruptcies 1582.00 1706.00 Companies Jun 2025
Business Confidence -6.70 -4.80 points Aug 2025
Capacity Utilization 78.30 74.80 percent Sep 2025
Car Production 1706.60 1783.60 Hundred Units Jun 2025
Car Registrations 98337.00 19125.00 Units Jul 2025
Cement Production 1713.00 1617.00 Thousands of Tonnes Jun 2025
Changes in Inventories 2835.00 2076.00 EUR Million Jun 2025
Composite Leading Indicator 100.24 100.25 points Aug 2025
Corruption Index 56.00 60.00 Points Dec 2024
Corruption Rank 46.00 36.00 Dec 2024
Electricity Price 55.32 0.44 EUR/MWh Sep 2025
Electricity Production 23504.06 21421.37 Gigawatt-hour Jun 2025
Industrial Production YoY 2.30 1.70 percent Jun 2025
Industrial Production Mom 1.00 0.50 percent Jun 2025
Manufacturing Production 2.20 0.60 percent Jun 2025
Mining Production 5.70 15.50 percent Jun 2025
Natural Gas Stocks Capacity 35.83 35.83 TWh Sep 2025
Natural Gas Stocks Injection 0.00 0.00 GWh/d Sep 2025
Natural Gas Stocks Inventory 30.59 30.59 TWh Sep 2025
Natural Gas Stocks Withdrawal 0.10 0.00 GWh/d Sep 2025
New Orders -9.60 -9.10 points Jul 2025
New Passenger Car Registrations YoY 17.10 15.20 percent Jul 2025
New Car Sales YoY 119125.00 112792.00 Units Jun 2025

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 Private Sector Output Growth Eases in August
The HCOB Spain Composite PMI fell to 53.7 in August 2025 from 54.7 in the prior month, indicating a softening of overall private sector growth. While the services sector expanded at a slower pace, manufacturing output increased at its fastest rate since last October, helping to partially offset the deceleration. Meanwhile, new orders rose at a faster rate, which helped to drive a solid rise in staffing levels. Capacity remained under pressure nonetheless as signaled by the steepest increase in backlogs of work recorded in the year to date. On the price front, both input and output charges increased at quicker pace. Finally, business confidence improved to a five-month high.
2025-09-03
Spain’s Private Sector Growth Hits Five-Month High
The HCOB Spain Composite PMI rose to 54.7 in July 2025 from 52.1 in June, signaling the strongest expansion in the country’s private sector since February. The upturn was driven mainly by robust growth in the services sector, alongside a solid increase in manufacturing output. The overall improvement was supported by a sharp rise in new business, while growing optimism about the economic outlook led to the fastest pace of job creation in four months. Although input cost inflation remained broadly stable, output charges increased at the steepest rate since February, with selling price inflation continuing to run well above the historical average.
2025-08-05
Spain Private Sector Growth Nudges Higher in June
The HCOB Spain Composite PMI rose to 52.1 in June 2025 from 51.4 in May, signaling a mild pickup in private sector growth after three consecutive months of slowing momentum. However, the index remained well below the levels observed earlier in the year. Both services (PMI at two-month high of 51.9 vs 51.3 in May) and manufacturing (PMI at six-month high of 51.4 vs 50.5) expanded at a quicker pace in June. The rise in output growth came despite a decline in new business volumes for the first time since November 2023, predominantly affecting the service sector amid signs of economic slowdown. Employment growth was maintained through additional hiring, although at its lowest level in over 18 months. Meanwhile, persistent input price inflation contributed to output charges increasing at their fastest rate in three months. Lastly, optimism about the future increased to a three-month high.
2025-07-03