The S&P Global Spain Services PMI went down to 53.8 in July of 2022 from 54 in June, the slowest expansion since March and above market expectations of 52. Growth of new work was registered for a sixth successive month, although the latest increase was modest. Whilst firms indicated that underlying sales remained positive, a slump in new business from abroad, there was some indication that tourism numbers remain lower-than-usual, and growing client hesitancy in committing to new work weighed on growth. Additional staff were again taken on, which enabled companies to broadly keep on top of overall workloads. However, inflation rates remained elevated, despite easing since June, and firms signaled growing concerns about elevated prices and wider economic instability. Confidence about the future slumped to its lowest level for nearly two years. source: Markit Economics

Services PMI in Spain averaged 51.61 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 August of 2022.

Services PMI in Spain is expected to be 53.60 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
Services PMI 53.80 54.00 points Jul 2022
Manufacturing PMI 48.70 52.60 points Jul 2022
Composite PMI 52.70 53.60 points Jul 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
53.80 54.00 62.50 7.10 2011 - 2022 points Monthly

News Stream
Spain Services PMI Falls Less than Expected
The S&P Global Spain Services PMI went down to 53.8 in July of 2022 from 54 in June, the slowest expansion since March and above market expectations of 52. Growth of new work was registered for a sixth successive month, although the latest increase was modest. Whilst firms indicated that underlying sales remained positive, a slump in new business from abroad, there was some indication that tourism numbers remain lower-than-usual, and growing client hesitancy in committing to new work weighed on growth. Additional staff were again taken on, which enabled companies to broadly keep on top of overall workloads. However, inflation rates remained elevated, despite easing since June, and firms signaled growing concerns about elevated prices and wider economic instability. Confidence about the future slumped to its lowest level for nearly two years.
2022-08-03
Spain Services Service Sector Growth Above Estimates
The S&P Global Spain Services PMI fell to 54 in June of 2022 from 56.5 in May, the slowest expansion since March and above market expectations of 53.5. Both activity and new business rose at slower rates while capacity remained under some pressure, as evidenced by a rise in backlogs of work, and companies added to their staffing levels in response. Cost pressures remain a problem, with some firms indicating that purchasing power amongst clients was being eroded. This led to worries that activity growth will be blunted over the coming months and overall confidence sank to a 20-month low.
2022-07-05
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