The association dedicated to promoting internationalized industry, Amec, asserted on Monday that the war in the Middle East is a "temporary" problem and that 30 percent of its 500 members have considered revising their 2026 forecasts downward. Amec's CEO, Joan Tristany, argued that "the structural conflict is Chinese competition," and that due to the tariffs imposed by the United States government, Chinese products are "everywhere." In fact, in 2025, despite Donald Trump's tariff war, Amec members' exports increased by 5.54%, a growth that Tristan considers "surprising and extraordinary" given the international geopolitical landscape. However, according to the report prepared by the association and published on Monday, companies have grown during 2025, although the "playing field is shifting," as Tristan explained during the presentation. However, he points out that, looking ahead to this year, companies are working with "ambition and caution."

Manufacturing activity in the eurozone worsened last December, ending 2025 in a near-constant recession, according to Purchasing Managers' Index (PMI) data compiled by S&P Global. The index closed December at 48.8 points, eight-tenths of a point below the previous month's level, the worst figure since March. This index, a key international indicator of economic activity by sector, signals expansion when it is above 50 and contraction when it is below. Although some analysts suggested that 2025 could be a year of recovery for industrial activity in Europe, the data have ultimately confirmed the opposite. "Demand for manufactured goods in the eurozone is slowing again," said Cyrus de Rubia, chief economist at Germany's Harmburg Commercial Bank, in comments reported by EFE. "It's not surprising that companies continue to cut staff in this environment," he added. Germany, the continent's industrial and export powerhouse, closed December with a manufacturing PMI of 47 points, its worst figure in ten months, while Spain stood at 49.6 points, its lowest in eight months. Italy also fell below 50 points, with 47.9, but at the other end of the spectrum, France and the Netherlands closed the last month of the year with 51.1 and 50.7 points respectively. In France's case, this is the highest figure in the last three and a half years. Looking ahead to 2026, however, the situation shows no signs of changing, at least in the short term: "Companies don't seem capable or willing to generate momentum; instead, they are acting cautiously, which is hurting the economy," says De la Rubia. However, the significant fiscal stimulus approved by the German government, which will be heavily focused on infrastructure improvements and aid for industry and innovation, could be a driving force in the coming months, not only in Germany but also across Europe, given that much of the industry in the eastern and southern European Union states is German-owned. Since the post-pandemic recovery, European industry has suffered several difficult years due to logistical and supply problems, rising raw material costs, and the energy crisis stemming from the Russian invasion of Ukraine, which drove up the cost of oil, electricity, and natural gas. More recently, the trade war initiated by US President Donald Trump, trade tensions with China, and the entry of Chinese electric vehicles into the European market have decimated many subsectors.

The Catalan economy moderated its growth rate in the third quarter of 2021, despite maintaining an upward trend. Between the months of July and September this year, the gross domestic product (GDP) of Catalonia increased by 0.7% over the previous quarter, a figure significantly lower than the 3.3% recorded between April and June, according to data released Friday by Idescat, the Generalitat's statistical agency. Compared to the third quarter of 2021, the Catalan economy grew by 3.4%.