Spanish manufacturing sector steadies in February, though demand stays subdued

Spanish Manufacturing Sector Shows Signs of Stabilization in February

In February, Spain's manufacturing industry experienced a period of relative steadiness after two months of decline. The pace of decreases in new orders, workforce numbers, and inventory levels all slowed, prompting many manufacturers to maintain their current output. Despite this, ongoing increases in costs led companies to remain somewhat cautious, resulting in the first rise in factory selling prices since August 2025. The seasonally adjusted HCOB Spain Manufacturing Purchasing Managers’ Index™ (PMI®), which summarizes the overall health of the manufacturing sector, climbed back to its neutral level.