FX.co ★ Spain’s Industrial Output Returns to Growth in January

Spain’s industrial production moved back into positive territory at the start of 2026, signaling a tentative improvement in the country’s manufacturing sector. Year-over-year output rose 0.3% in January 2026, reversing the 0.3% decline recorded in December 2025, according to data updated on 5 March 2026.

The figures are based on a year-over-year comparison, measuring January 2026 activity against January 2025, while the previous reading compared December 2025 with December 2024. The swing from negative to positive growth suggests that industrial activity has stabilized and may be gaining modest traction after contracting at the end of last year.

While the overall increase is still modest, the turnaround is likely to be watched closely by markets and policymakers as an early indication of whether Spain’s industrial sector can sustain momentum through 2026 after a weak finish to 2025.