Spanish business confidence index rose to -2.3 in March from a downwardly revised -4.7 in February (originally -4.9). It was the highest reading since November of 2018.

Expectations for production rose significantly (5.4 in March from -2.1 in February) and new orders improved (-6.1 from -6.7). At the same time, the current level of output decreased (-3.0 from -0.3) and employment expectations dropped slightly (2.5 from 2.6).