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- Strong rise for Spanish services PMI
Strong rise for Spanish services PMI
Strong growth of new business fed through to another sharp monthly rise in activity in the Spanish service sector, with rates of expansion in both quickening from August. Rising workloads encouraged companies to increase staffing levels again. Stronger client demand enabled another rise in output prices, with the rate of inflation among the fastest in the past decade. Meanwhile, input costs increased at a weaker pace.
The headline seasonally adjusted Business Activity Index rose to 56.7 in September from 56.0 in August, thereby signalling a sharp and accelerated increase in business activity at Spanish services companies. Activity has now risen in each of the past 47 months, with the latest expansion linked by panellists to improving market conditions and rising customer numbers.
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