FX.co ★ Spain’s Factory Activity Edges Back to Expansion as July PMI Tops 50

Spain’s manufacturing sector returned to expansion territory in July, as the HCOB Spain Manufacturing Purchasing Managers’ Index (PMI) rose to 50.2, up from 49.7 in June 2026.

The move above the 50.0 threshold, which separates contraction from growth, signals a marginal but notable improvement in operating conditions for Spanish manufacturers. The June reading of 49.7 had indicated a slight slowdown, making July’s uptick a potentially early sign of stabilisation in the industrial sector.

The latest data, updated on 3 August 2026, will be watched closely by investors and policymakers looking for confirmation that Spain’s manufacturing activity is gaining traction after hovering around the stagnation line in recent months.