Spain's industrial confidence indicator dropped to -3.7 in June 2019 from -3.3 in the previous month, due to a sharp increase in stocks of finished products (15.0 vs 9.5 in May). Meanwhile, output expectations improved slighly (5.0 vs 4.8) and the current assessment of new orders level was less negative (-1.0 vs -5.1). Business Confidence in Spain averaged -10.47 Index Points from 1980 until 2019, reaching an all time high of 8.50 Index Points in September of 1997 and a record low of -39 Index Points in March of 2009.
Business Confidence in Spain is expected to be -3.80 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Spain to stand at -7.60 in 12 months time. In the long-term, the Spain Business Confidence is projected to trend around -6.00 Index Points in 2020, according to our econometric models.