The S&P Spain Global Manufacturing PMI rose to 51 in September 2026 from 49.5 in the prior month and above market forecastst of 50.1. The reading marked a return to growth, albeit modest, driven partly by a rebound in production after three months of contraction. External demand provided the main support, with firms reporting new projects and a rise in orders from international clients. New exports increased for the first time since August 2025, although overall new orders fell for a fifth consecutive month.