Spanish Services PMI At 57.8 in April, rises at fastest pace in 20 months

Spanish Services PMI At 57.8 in April, rises at fastest pace in 20 months

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IHS market report on April survey data pointed to further sharp monthly rises in activity and new business in the Spanish service sector.

The headline seasonally adjusted Business Activity Index ticked up to 57.8 in April, indicating a
sharp monthly rise in activity, slightly faster than seen in March, where it improved to 57.4 points.

The service sector Activity has expanded continuously since November 2013, with the latest increase supported by improving economic conditions.

All six of the broad sectors covered by the survey saw activity increase, with rises in new orders and employment also broad-based. The fastest growth of activity was recorded at Transport & Storage
companies.

The release stated, Higher workloads encouraged firms to expand their operating capacity, by cause of employment increased to the greatest extent in nine months. Companies generally expect these trends to be sustained, supporting further optimism around the 12-month outlook.

Andrew Harker, Senior Economist at IHS Markit said: The Spanish service sector maintained growth momentum at the start of the second quarter. Last month we suggested that rising prices would test the strength of demand, and the early signs are positive in this regard.