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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain Thomson Reuters IPSOS PCSI fell to 45.22 in September 2026
FMPMonthlyReleased October 2026
Spain Thomson Reuters IPSOS PCSI fell to 45.22 in September 2026, released October 2026, down 1.6 from August's 46.82 reading.
Latest Release
45.220000
Actual
—
Consensus
46.820000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| EUR/USD | ▼ Inverse | −0.36 | FOREX | Moves against | → View |
| USD/JPY | ▲ Direct | +0.32 | FOREX | Moves with | → View |
| GBP/USD | ▼ Inverse | −0.28 | FOREX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Thomson Reuters IPSOS PCSI (Spain) was reported at 45.22 in October 2026. The reading fell from the previous value of 46.82. Trailing 12-month context per ETL data through October 2026. Over the past 12 months, the indicator has averaged 49.01, ranging from 45.22 to 51.71 across 11 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 46.84, down from the prior three at 48.99. Volatility over the past year (σ 1.95) is higher than the prior year (σ 1.01).
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with EUR/USD (Bearish EUR). A secondary relationship exists with USD/JPY, positively correlated (Bullish USD).
WHAT TO WATCH NEXT
The next release is scheduled for November 12, 2026. Same-country events in the next 14 days include S&P Global Manufacturing PMI (Nov 2) and Consumer Confidence (Nov 3).
Auto-generated from current model state · Refreshes on each release · Last update October 2026.
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Thomson Reuters IPSOS PCSI - ES
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About Thomson Reuters IPSOS PCSI — Spain
DEFINITION
Spain’s Thomson Reuters IPSOS PCSI fell to 45.220000 in October from September’s 46.820000, marking a continued contraction below the 50 threshold. The index has declined steadily since July’s 50.64, signaling weakening sentiment. Market participants will watch upcoming economic data for further clarity on Spain’s growth trajectory. Updated 10/15/26
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Oct 2026): actual 45.22. Prior reading (Sep 2026): 46.82. Before that (Aug 2026): 48.47.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection.
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EXPECTED ZONE
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Economic Calendar - ES Events
| Monday, November 2, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 08:15 | ES | S&P Global Manufacturing PMI | 51 | 50.8 | 50.90 | Medium | |
| 11:00 | ES | New Car Sales YoY | 10.2 | 13.5 | 16.20 | Low | |
| 12:00 | ES | New Car Sales YoY | 10.2 | 13.5 | 16.20 | Low | |
| Tuesday, November 3, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 10:00 | ES | Consumer Confidence | 84.1 | 83.4 | 83.40 | Medium | |
| Wednesday, November 4, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 08:00 | ES | Employment Change | 23.587 | 25.3 | 45.20 | High | |
| 08:00 | ES | Tourist Arrivals YoY | 9.2 | 1.2 | -2.25 | Low | |
| 08:15 | ES | S&P Global Services PMI | 58.3 | 57.2 | 58.90 | Medium | |
| 08:15 | ES | S&P Global Composite PMI | 56.8 | 56 | 57.40 | Low | |