FX.co ★ Spain Business Confidence Softens

Spain’s seasonally adjusted industrial confidence indicator edged down to -2.6 in July, slightly below the near two-year high of -2.4 recorded in June. The decline was primarily driven by a 0.7-point drop in expectations for production over the coming year, even as price expectations climbed by 1.2 points. At the same time, the index tracking order levels in the previous period increased by one point.