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.

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Spain Services PMI


News Stream
Spain Services Service Sector Growth Below Estimates
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.
2021-10-05
Spain Service Sector Growth Eases More than Expected
The IHS Markit Spain Services PMI declined to 60.1 in August 2021 from 61.9 in July, missing market expectations of 61.5. New business growth rose slightly faster than in July amid stronger customer demand as the pandemic receded further, as well as an improvement in international demand, with new export sales hitting an over 6-year high. Backlogs of work rose for a fifth successive month, with the rate of growth easing from July’s 21-1/2-year high. Employment rose for a fifth month in a row, partially helped by the return of employees from furlough in the Hotels & Restaurant sector. On the price front, the rate of input cost inflation was again considerable although easing for the second straight month, contrasting with a much more moderate rate of selling price inflation. Lastly, the 12-month business outlook remained well above the series average, on hopes that the impact from the pandemic in the economy will continue to decrease, largely due to the vaccination drive.
2021-09-03
Spain Service Sector Growth Remains Elevated
The IHS Markit Spain Services PMI fell to 61.9 in July 2021 from 62.5 in June, which was the best in over 21 years. Still, growth remains extremely elevated and comfortably above the survey average. New export sales continued to rise at a solid pace, although there were some reports that increased infection numbers due to the emergence of the delta variant of COVID-19 had weighed on foreign demand with the cancellation of some orders reported. Backlogs of work rose for a fourth successive month, with the rate of growth accelerating to the fastest since February 2000. Employment rose for a fourth month in a row, with not only higher sales, but the reopening of facilities and the return from furlough of staff also underpinning hiring activity. On the price front, the rate of inflation was again considerable although easing since June’s recent high. Finally, confidence about the future eased to a four-month low amid some concern over the recent rise in COVID-19 infection numbers.
2021-08-04

Spain Last Unit Reference Previous Highest Lowest
Services PMI 56.90 points Sep/21 60.10 62.50 7.10
Manufacturing PMI 58.10 points Sep/21 59.50 60.40 30.80
Composite Pmi 57.00 points Sep/21 60.60 62.40 9.20


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.