In June 2025, Spain's seasonally adjusted industry confidence indicator experienced a decline of 0.9 points from the previous month, standing at -5.2— the lowest level observed since February. There was a significant decline in output expectations, which dropped to -1.6 from -0.1 in May, and new orders continued to weaken, falling to -9.1 from -6.8. This data suggests ongoing pressure on demand. Concurrently, inventories of finished products decreased, moving from 5.9 to 4.9. Meanwhile, respondents indicated an increase in price expectations, which rose to 8.1 from 5.8.