The industry confidence indicator in Spain sank to -5.1 in May of 2023 from the downwardly revised -1.4 in the previous month, pointing to the eleventh consecutive period of pessimism toward Spanish business at the sharpest extent since February. The developments align with the expected impact of aggressive interest rate hikes by the European Central Bank, aiming to destroy aggregate demand to reign in soaring inflation. Deterioration was noted in subindices for output expectations (3 vs 8 in April) and order book levels (-5.9 vs -5.4). On the other hand, inventory levels were notably higher (12.4 vs 6.8), suggesting poor consumer demand. source: Ministerio de Industria, Energia Y Turismo
Business Confidence in Spain averaged -9.92 points from 1980 until 2023, reaching an all time high of 9.60 points in February of 2022 and a record low of -38.30 points in March of 2009. This page provides the latest reported value for - Spain Business Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Business Confidence in Spain is expected to be -3.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Business Confidence is projected to trend around 3.40 points in 2024 and 2.40 points in 2025, according to our econometric models.