Spain Services PMI

Last Release

Jul 31, 2024

Actual

53.9

Units In

Points

56.8

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
62.5 Jun 2021	7.1 Apr 2020	51.87 Points	2011-2024	Markit Economics

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.

Latest Updates

The HCOB Spain Services PMI dropped to 53.1 in November 2024, down from 54.9 in October and slightly below the expected 53.2. While still indicating growth in the service sector, the pace has slowed, marking the weakest expansion since January. This slowdown was partly due to the impact of flooding from a weather phenomenon, which limited growth in both activity and new business. Despite this, firms remained optimistic about the future, adding staff to manage increased workloads. On the price front, input costs continued to rise, driven by higher wages, although output charges increased at the slowest rate since August 2021. Looking ahead, companies expect continued growth over the next 12 months, driven by economic optimism and planned commercial activity.