The IHS Markit Spain Services PMI rose to 48.1 in March of 2021 from 43.1 in the previous month and above market expectations of 46. The latest reading pointed to the slowest rate of contraction in the current eight-month sequence of declines. Although sales overall declined, mainly due to a drop in foreign business, especially in tourism and hospitality services, the overall pace of contraction was modest, and the weakest recorded by the survey since last July. Firms nonetheless continued to cut their staffing levels, extending the current period of job shedding to over a year – although the pace of contraction was comfortably the weakest in the current sequence. Margins also remained under pressure, with firms reporting another noticeable increase in operating expenses, but a slight drop in output charges. Finally, confidence about the future remained positive during March, and was little changed on February’s near three-year high. source: Markit Economics

Services PMI in Spain averaged 50.94 points from 2011 until 2021, reaching an all time high of 60.30 points in April of 2015 and a record low of 7.10 points in April of 2020. This page provides the latest reported value for - Spain Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.

Services PMI in Spain is expected to be 53.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Spain to stand at 54.00 in 12 months time. In the long-term, the Spain Services PMI is projected to trend around 55.00 points in 2022 and 54.40 points in 2023, according to our econometric models.

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Spain Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
48.10 43.10 60.30 7.10 2011 - 2021 points Monthly


News Stream
Spain Services Activity Shrinks the Least in 8 Months
The IHS Markit Spain Services PMI rose to 48.1 in March of 2021 from 43.1 in the previous month and above market expectations of 46. The latest reading pointed to the slowest rate of contraction in the current eight-month sequence of declines. Although sales overall declined, mainly due to a drop in foreign business, especially in tourism and hospitality services, the overall pace of contraction was modest, and the weakest recorded by the survey since last July. Firms nonetheless continued to cut their staffing levels, extending the current period of job shedding to over a year – although the pace of contraction was comfortably the weakest in the current sequence. Margins also remained under pressure, with firms reporting another noticeable increase in operating expenses, but a slight drop in output charges. Finally, confidence about the future remained positive during March, and was little changed on February’s near three-year high.
2021-04-07
Spain Services Activity Shrinks for 7th Month
The IHS Markit Spain Services PMI rose to 43.1 in February of 2021 from 41.7 in the previous month and above market expectations of 43. The latest reading pointed to the seventh consecutive month of contraction in the services sector amid restrictions on activity related to the global coronavirus disease pandemic. Both business activity and new orders continued to decline markedly, whilst job losses were again recorded as workloads remained well down. Cost inflation accelerated again, reaching its highest level since last June. However, amid growing hopes that vaccination programmes will provide the basis for an end to the pandemic and subsequently a strong uplift in economic activity, optimism about the future surged to its highest for over two-and-a-half years.
2021-03-03
Spain Services Sector Shrinks More than Expected
The IHS Markit Spain Services PMI declined sharply to 41.7 in January from 48.0 in the previous month and below market expectations of 45.3. The latest reading pointed to the sixth successive contraction in the services sector and to a considerable degree, as local restrictions related to coronavirus pandemic and inclement weather conditions served to restrict activity. Demand from both home and abroad was again down, and a lack of new work meant firms chose to cut employment numbers at their units for an eleventh successive month. Nonetheless, operating expenses increased at an accelerated rate, but the difficult business environment led to another round of falling output charges. Finally, service providers retained a reasonable degree of confidence that activity will increase over the coming 12 months, although overall optimism was at its lowest in three months amid worries over the long-term economic impact of the pandemic.
2021-02-03
Spain Services Activity Shrinks the Least in 5 Months
The IHS Markit Spain Services PMI rose to 48 in December of 2020 from 38.5 in the previous month, above market expectations of 45. The latest reading pointed to the softest contraction in services activity in the current five-month sequence of falls. Activity and new work both continued to fall, but at slower rates, whilst confidence about the future improved markedly to a two-and-a-half year high on the back of positive vaccine developments related to the global coronavirus disease 2019 pandemic. However, challenging current conditions and excess capacity at their units meant firms saw little choice but to make further cuts to their staffing levels.
2021-01-06

Spain Services PMI
The Markit Spain Services PMI (Purchasing Managers' Index) is based on data compiled from a representative panel of over 300 companies based in the Spanish service sector. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.