Spain’s services sector, about 50% of the country’s GDP, was boosted in September thanks to new business at the fastest rate in more than two years, according to Markit’s Purchasing Managers’ Index (PMI).
Operating conditions continued to improve in August, according to the latest Markit PMI survey. Output grew to a 3-month high, yet new orders rose at levels of 2013.
The Corner | July 1, 2015 | Spanish manufacturing PMI, one indicator of the economic pace of a country, posted 54.5 in June, down slightly from 55.8 in May. However, operating conditions have now strengthened in each of the past 19 months, according to Markit analysts. Manufacturers reported having hired extra staff to meet higher production requirements and prospects of future growth.
The Corner | April 7, 2015 | Analysis from Barclays | Spanish composite PMIs rebounded to 56.9 (+0.9 point) in March, as services PMI overshot expectations (57.3) and manufacturing output remained broadly stable (55.5). The services sector’s solid performance (PMI at an eight month high) was primarily triggered by stronger new business.