The IHS Markit Spain Services PMI fell to 56.9 in September of 2021 from 60.1 in August, missing market estimates of 58. The latest reading pointed to a sixth straight month of robust growth in the services sector, but the weakest since April. Activity and sales continued to rise but the rates of growth slowed, due to ongoing logistics constraints and inflationary pressures. As a result, employment expanded less and backlogs of work rose further. On the price front, input costs rose to the greatest degree recorded by the survey since July 2008, whilst output charges were raised markedly. Lastly, confidence about the future remained positive during September, amid the ongoing success of the vaccination programme and recent growth, along with new product launches and commercial ventures. source: Markit Economics
Services PMI in Spain averaged 51.34 points from 2011 until 2021, reaching an all time high of 62.50 points in June of 2021 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 October of 2021.
Services PMI in Spain is expected to be 54.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.