Spanish services sector keeps giving good news in July

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Cost inflationary pressures remained relatively muted, while companies continued to lower their output prices as part of attempts to stimulate new business. However, the extent of discounting in July was the least marked since charges started to tall in August 2008.

The Transport&Storage sector was the strongest performer both in terms of activity and new business, while Financial Intermediation companies posted further sharp expansions.

Service providers continued to take on extra staff during the month, extending the current period of job creation to four months. As unemployment figures published this week show, the unemployment rate fell by 12,518 people in July, -0.45% in comparison with June.

Expectations of further improvements in Spanish economic conditions and the launch of new products supported optimism that activity will rise over the coming year. The level of positive sentiment has remained broadly stable over the past four months.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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