Spain August services PMI 60.1 vs 61.4 expected

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Latest data released by Markit – 3 September 2021

  • Prior 61.9
  • Composite PMI 60.6
  • Prior 61.2

The reading reaffirms further moderation in overall activity from the 21-year high in June but they are still at elevated levels, with companies also remaining confident of continued growth in the year ahead. Markit notes that:

“The current strong growth phase in the Spanish
service sector was sustained during August as the
economy continues to benefit from a loosening of
lockdown restrictions and successful vaccine rollout.
With new orders rising at a faster pace, firms were
keen to hire additional staff, including welcoming back
more workers from furlough.

“There were some positive signs on international
demand as new export business increased to the
greatest extent for six years. The expansion was still
short of that seen for total new orders, however, as
international travel remains some way from normality.
Companies will be hoping that international travel
can open up more soon to help boost the sector as the
summer season draws to a close.”

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