The HCOB Spain Composite PMI increased slightly to 53.8 in September 2025, up from 53.7 in the previous month, indicating sustained robust growth in Spain's private sector. The services sector experienced accelerated expansion, with the PMI rising to 54.3 from August's 53.2. However, manufacturing showed a significant deceleration, with the PMI falling to 51.5 compared to 54.3.