The seasonally adjusted industry confidence indicator in Spain fell to -6.7 in August of 2025 from the revised -4.8 in the previous month, reflecting the largest magnitude of pessimism for businesses since October of 2024. The worsening development was owed to a sharp decline in levels of new orders (-13 vs -9.6 in July), also the largest decline since October of last year. In turn, increases too place for production (3.6), which rose the most since November, and stocks (10.7 vs 6.9), which rose the most since at least 2023.