The S&P Global Spain Services PMI came in at 49.7 in October 2022 compared to 48.5 in September and above market expectations of 48.3. The latest reading signalled a marginal contraction of business activity for a second month in succession, amid further declines in new orders and output. Demand conditions were again subdued both at home and abroad against a backdrop of elevated inflation and unusually high levels of uncertainty in the economic outlook. Meanwhile, firms increased workforce numbers marginally following a first contraction for a year-and-a-half during September. Price pressures intensified, with both input prices and output charges increasing sharply and at accelerated rates since the previous month, mainly due to higher energy, electricity, and fuel charges. Looking ahead, confidence about the future remained relatively low. source: Markit Economics

Services PMI in Spain averaged 51.56 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 November of 2022.

Services PMI in Spain is expected to be 48.30 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 50.50 points in 2023 and 51.20 points in 2024, according to our econometric models.

Ok
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Spain Services PMI



Related Last Previous Unit Reference
Services PMI 49.70 48.50 points Oct 2022
Manufacturing PMI 44.70 49.00 points Oct 2022
Composite PMI 48.00 48.40 points Oct 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
49.70 48.50 62.50 7.10 2011 - 2022 points Monthly

News Stream
Spain Services Sector Contracts Less
The S&P Global Spain Services PMI came in at 49.7 in October 2022 compared to 48.5 in September and above market expectations of 48.3. The latest reading signalled a marginal contraction of business activity for a second month in succession, amid further declines in new orders and output. Demand conditions were again subdued both at home and abroad against a backdrop of elevated inflation and unusually high levels of uncertainty in the economic outlook. Meanwhile, firms increased workforce numbers marginally following a first contraction for a year-and-a-half during September. Price pressures intensified, with both input prices and output charges increasing sharply and at accelerated rates since the previous month, mainly due to higher energy, electricity, and fuel charges. Looking ahead, confidence about the future remained relatively low.
2022-11-04
Spain Services Contracts for 1st Time in 8 Months
The S&P Global Spain Services PMI fell to 48.5 in September 2022 from 50.6 in August, below market expectations of 49.8. The latest reading pointed to the first contraction in the country's services sector since January, due to another decline in total new business amid worsening economic conditions. As a result, staffing levels were reduced slightly in September for the first time since March 2021. Meanwhile, backlogs of work declined for a second successive month, with the rate of contraction the sharpest recorded by the survey since February 2021. On the price front, price pressures intensified, amid increases in utility and energy bills alongside wages. Finally, confidence about future growth remained subdued.
2022-10-05
Spain Services Sector Grows at Slowest Pace Since January
The S&P Global Spain Services PMI fell to a seven-month low of 50.6 in August 2022 from 53.8 in July, well below market expectations of 52.9. Firms reported a contraction in new business for the first time since the start of the year, citing sky-high inflation and economic uncertainty, while hiring growth was subsequently held back. On the price front, firms continued to report higher operating costs despite both prices paid for inputs and charges rising at slower rates. Finally, French service providers' confidence regarding the future remained historically muted.
2022-09-05