The S&P Global Spain Composite PMI rose to 56.8 in September 2026 from 55.8 in August, marking a fifth consecutive month of growth and its highest level since December 2024. Services remained the main driver of expansion, while manufacturing returned to marginal growth after contracting in August. Private-sector employment increased again, and business confidence improved from the previous month, pointing to a strengthening outlook for economic activity. However, rising cost pressures remained a concern, with input-price inflation accelerating and output charges increasing at their fastest pace since April.