Spain’s seasonally adjusted industrial confidence indicator rose to -2.6 in February 2026, up from a revised -3.1 in January, marking its highest reading since September 2024. The improvement was driven by stronger expectations for future production (6.5 vs 1.6 in January), even as order books weakened (-9.9 vs -7.8) and stock levels rose (4.6 vs 3.1).