The S&P Global Spain Services PMI came in at 56.5 in May 2022, down slightly from 57.1 in April but above market expectations of 56. The latest reading pointed to the fourth consecutive month of growth in services activity and at a solid pace. Both activity and new business continued to increase, amid higher demand at home and abroad. At the same time, overall employment growth picked up to its highest level since June 2021 as capacity challenges mounted. On the price front, cost pressures remained elevated, although both input inflation output charge inflation dropped a little further away from March's survey record. Finally, business sentiment remained positive as firms eyed a further improvement of activity in a post-pandemic world. source: Markit Economics

Services PMI in Spain averaged 51.57 points from 2011 until 2022, 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 June of 2022.

Services PMI in Spain is expected to be 54.20 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 54.70 points in 2023 and 54.40 points in 2024, according to our econometric models.

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Spain Services PMI



Related Last Previous Unit Reference
Manufacturing PMI 53.80 53.30 points May 2022
Services PMI 56.50 57.10 points May 2022
Composite Pmi 55.70 55.70 points May 2022

Spain Services PMI
The S&P Global 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.
Actual Previous Highest Lowest Dates Unit Frequency
56.50 57.10 62.50 7.10 2011 - 2022 points Monthly

News Stream
Spain Service Sector Growth Remains Robust
The S&P Global Spain Services PMI came in at 56.5 in May 2022, down slightly from 57.1 in April but above market expectations of 56. The latest reading pointed to the fourth consecutive month of growth in services activity and at a solid pace. Both activity and new business continued to increase, amid higher demand at home and abroad. At the same time, overall employment growth picked up to its highest level since June 2021 as capacity challenges mounted. On the price front, cost pressures remained elevated, although both input inflation output charge inflation dropped a little further away from March's survey record. Finally, business sentiment remained positive as firms eyed a further improvement of activity in a post-pandemic world.
2022-06-03
Spain Service Sector Growth Hits 5-Month High
The S&P Global Spain Services PMI rose to 57.1 in April 2022 from 53.4 in March and above market expectations of 55.9. The latest reading pointed to the third consecutive month of growth in services activity and at the quickest pace since last November. Both activity and new business increased at faster rates, as looser COVID-19 restrictions had helped to boost demand, largely from the domestic market. Also, employment grew solidly for the 13th month in a row, although the rate of growth softened. On the price front, inflationary pressures remained elevated, on account of energy bills plus expensive freight and supplier charges. Finally, confidence rebounded noticeably since March to an above-average level, as the strong uptick in activity driven by easing COVID-19 restrictions is expected to continue over the coming months.
2022-05-04
Spain Service Sector Growth Eases More than Expected
The S&P Global Spain Services PMI recorded 53.4 in March 2022, down from 56.6 in February and below market expectations of 54.2. Growth rates of both activity and new business softened amid heightened uncertainty due to the war in Ukraine. A domestic transportation strike about high fuel prices added further challenges, with increased costs for energy, fuel and supplier goods reflected by survey record rises in both operating expenses and prices charged by suppliers. On the price front, operating costs rose for a twenty-second consecutive month, strongest ever recorded rise; and output prices increased for a twelfth successive month and the rate of inflation maintained its recent upward trend to also hit a survey record high. Finally, firms also signalled some hope that - as pandemic challenges dissipate - activity will continue to rise over the coming 12 months. However, confidence overall dropped quite noticeably since February.
2022-04-05