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 July 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.