The IHS Markit Spain Services PMI declined sharply to 41.7 in January from 48.0 in the previous month and below market expectations of 45.3. The latest reading pointed to the sixth successive contraction in the services sector and to a considerable degree, as local restrictions related to coronavirus pandemic and inclement weather conditions served to restrict activity. Demand from both home and abroad was again down, and a lack of new work meant firms chose to cut employment numbers at their units for an eleventh successive month. Nonetheless, operating expenses increased at an accelerated rate, but the difficult business environment led to another round of falling output charges. Finally, service providers retained a reasonable degree of confidence that activity will increase over the coming 12 months, although overall optimism was at its lowest in three months amid worries over the long-term economic impact of the pandemic. source: Markit Economics

Services PMI in Spain averaged 51.03 points from 2011 until 2021, reaching an all time high of 60.30 points in April of 2015 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 February of 2021.

Services PMI in Spain is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Spain to stand at 52.50 in 12 months time. In the long-term, the Spain Services PMI is projected to trend around 52.90 points in 2022 and 54.40 points in 2023, according to our econometric models.

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Spain Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
41.70 48.00 60.30 7.10 2011 - 2021 points Monthly


News Stream
Spain Services Sector Shrinks More than Expected
The IHS Markit Spain Services PMI declined sharply to 41.7 in January from 48.0 in the previous month and below market expectations of 45.3. The latest reading pointed to the sixth successive contraction in the services sector and to a considerable degree, as local restrictions related to coronavirus pandemic and inclement weather conditions served to restrict activity. Demand from both home and abroad was again down, and a lack of new work meant firms chose to cut employment numbers at their units for an eleventh successive month. Nonetheless, operating expenses increased at an accelerated rate, but the difficult business environment led to another round of falling output charges. Finally, service providers retained a reasonable degree of confidence that activity will increase over the coming 12 months, although overall optimism was at its lowest in three months amid worries over the long-term economic impact of the pandemic.
2021-02-03
Spain Services Activity Shrinks the Least in 5 Months
The IHS Markit Spain Services PMI rose to 48 in December of 2020 from 38.5 in the previous month, above market expectations of 45. The latest reading pointed to the softest contraction in services activity in the current five-month sequence of falls. Activity and new work both continued to fall, but at slower rates, whilst confidence about the future improved markedly to a two-and-a-half year high on the back of positive vaccine developments related to the global coronavirus disease 2019 pandemic. However, challenging current conditions and excess capacity at their units meant firms saw little choice but to make further cuts to their staffing levels.
2021-01-06
Spain Services Activity Shrinks for 4th Month
The IHS Markit Spain Services PMI fell to 39.5 in November of 2020 from 41.4 in October and compared to market forecasts of 36.6. Services economy suffered a further contraction as restrictions related to the global coronavirus pandemic had a detrimental impact on consumer mobility and demand. A steep reduction in new business led to another round of job losses as companies were able to comfortably keep on top of workloads. However, on a more positive note, recent news on vaccine development led to a jump in business confidence to its highest level in 20 months.
2020-12-03
Spain Services Sector Shrinks at a Faster Pace
The IHS Markit Spain Services PMI dropped 41.4 in October 2020 from 42.4 in September but above market expectations of 40. The reading pointed to the third consecutive contraction in the services sector and the sharpest since May. Both activity and new orders shrank at the fastest pace in five months with firms indicating that rising infections and worries amongst consumers regarding the pandemic undermined sales. Also, export orders declined sharply and for the eighteenth successive month while the job shedding rate eased to its weakest in the current eight-month period of contraction. On the price front, input price inflation rose boosted by higher labour and transportation cost, while output charges fell for an eighth straight month with the rate of deflation slowing to a four-month low. Finally, sentiment improved to its highest level since June lifted by hopes of a strong recovery in demand and sales once the current situation regarding COVID-19 was brought under control.
2020-11-04

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.