Spain’s industrial climate indicator dropped to -4.9 in February of 2019 from a downwardly revised -4.3 in the previous month. It was the lowest reading in industrial morale since January of 2015, as new orders fell further (-6.7 from -4.7 in January) and stocks of finished products decreased sharply (5.4 from 11.6). In addition, output expectations fell to -2.5 from 3.3 in January. Business Confidence in Spain averaged -10.53 Index Points from 1980 until 2019, reaching an all time high of 8.50 Index Points in September of 1997 and a record low of -39 Index Points in March of 2009.
Business Confidence in Spain is expected to be -6.20 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Spain to stand at -8.00 in 12 months time. In the long-term, the Spain Business Confidence is projected to trend around -6.00 Index Points in 2020, according to our econometric models.