Spain Services PMI Growth Remains Strong … RTT
Spain Services PMI Growth Remains Strong In June
Spain’s services sector growth remained robust in June, despite rates of expansion in activity and new business easing slightly from May, survey data from IHS Markit showed
The services Purchasing Managers’ Index dropped 55.4 in June from 56.4 in May.
However, any reading above 50 indicates expansion in the sector.
The survey revealed that the latest rise in activity reflected an improving economic climate.
New orders rose sharply but at a weaker pace in June. The rate of job creation remained elevated in June, posting broadly in line with that seen in May and one of the fastest since early-2007.
On the price front, input price inflation accelerated to the sharpest level since September 2008, driven by increased costs for fuel and staff. Selling price inflation also quickened from May.
“While the sister manufacturing PMI survey has shown growth moderating since the start of the year, the service sector has been able to largely maintain growth momentum,” Andrew Harker, Associate Director at IHS
“This should help lead to another solid rise in GDP during the second quarter of 2018.”
by RTTNews Staff Writer