Spain Composite PMI

Last Release

Mar 31, 2024

Actual

55.3

Units In

Points

53.9

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
62.4 Jun 2021	9.2 Apr 2020	51.22 Points	2018-2024	Markit Economics

The Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index. The weights reflect the relative size of the manufacturing and service sectors according to official GDP data. The Composite Output Index may be referred to as the ‘Composite PMI’ but is not comparable with the headline manufacturing PMI figure.

Latest Updates

The HCOB Spain Composite PMI surged to 55.3 in March 2024 from 53.9 in February, indicating the fourth successive month of expansion in the country's private sector and marking the strongest performance since April 2023. Spain's services sector activity grew at the fastest pace since May 2023 (56.1 vs 54.7 in February) and manufacturing activity kept the solid pace of expansion (51.4 vs 51.5). New orders increased the most in eleven months. Meanwhile, job gain was the most pronounced in just under a year due to stretched capacity. Regarding prices, both output and input inflation fell to three-month lows, but remained above the trend. Finally, confidence in the future dipped slightly in March but stayed close to its two-year high. Commenting on the PMI data, economist Dr. Cyrus de la Rubia said Spain was setting the stage for another year of above-average growth compared to most other Eurozone countries.