Spanish business confidence falls 1.8 per cent for the fourth quarter

23 October 2026

Spain's National Statistics Institute reported that the Harmonised Business Confidence Index fell 1.8 per cent for the fourth quarter of 2026 compared with the third quarter, after a rise of 3.2 per cent in the previous quarter. For the fourth quarter, 20.5 per cent of managers expected a favourable quarter and 14.8 per cent an unfavourable one, a balance of plus 5.7 points. Looking back at the third quarter, 21.1 per cent rated it favourable and 15.5 per cent unfavourable, a balance of plus 5.6 points. Confidence fell in all five sectors studied, with Trade down 3.3 per cent and Other services down 0.9 per cent. Among the autonomous communities, confidence fell in 15 and rose in 2. Murcia fell most at 5.1 per cent, while the Canary Islands rose 2.3 per cent and Galicia 0.5 per cent.