The seasonally adjusted industry confidence indicator in Spain edged up to -5.4 in October 2025 from -5.6 in the prior month, showing improvement for the second consecutive month. The increase reflected stronger production expectations (5.9 vs 3) and a milder decline in order books (-12.9 vs -13.3). At the same time, inventories of finished goods picked up pace, rising to 9.2 from 6.6.