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Confidence in Spain improves to highest since summer-2015

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Staff Writer | November 15, 2016
The latest Markit Business Outlook Survey points to an improvement in confidence among both manufacturing firms and service providers in Spain.
Spain street
Europe   Markit Spain Business Outlook
A net balance of +47% of companies foresee a rise in activity over the coming year in October, up from +37% in June.

This is the highest reading since June 2015, with confidence in Spain above the eurozone average (+35%). Stronger sentiment is seen across both monitored sectors, with the rebound more pronounced in services (+47% from +35%) than in manufacturing (+46% from +43%).

Anecdotal evidence suggests that the launch of new products in an improving economic environment provides the main opportunity for growth of activity.

Downside risks to the outlook include the potential for political and economic instability both nationally and internationally.

Spanish firms have also seen similar pick-ups in confidence relating to new business and profits since the summer, with service providers again leading the improvement in sentiment.

In fact, manufacturers are fractionally less optimistic regarding profitability than they were at the time of the June survey.