Spain’s manufacturing activity edged back into contraction territory in August, as the HCOB Spain Manufacturing Purchasing Managers’ Index (PMI) slipped to 49.5 from 50.2 in July 2026.
The July reading had just nudged the sector into marginal expansion, crossing the 50.0 threshold that separates growth from contraction, but the latest data for August 2026 show momentum has weakened again. A PMI below 50 typically signals a decline in overall manufacturing conditions, suggesting softer demand or a slowdown in new orders and production.
The updated figures, released on 1 September 2026, will likely prompt closer scrutiny from investors and policymakers watching for signs of resilience or strain in Spain’s industrial base amid a fragile global manufacturing landscape.
