The IHS Markit Spain Services PMI fell to 55.8 in December of 2021 from 59.8 in the previous month, the lowest since April and below market expectations of 57.5. The Spanish service sector continued its recent run of expansion during December, with both activity and new business rising markedly again. However, compared to November, rates of growth were noticeably lower as the emergence of the Omicron variant of COVID-19 weighed on public confidence and demand. Optimism amongst service providers about the future subsequently also slipped, dropping to its lowest since the start of the year. source: Markit Economics

Services PMI in Spain averaged 51.48 points from 2011 until 2021, reaching an all time high of 62.50 points in June of 2021 and a record low of 7.10 points in April of 2020. This page provides the latest reported value for - Spain Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.

Services PMI in Spain is expected to be 54.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Services PMI is projected to trend around 55.00 points in 2023 and 54.40 points in 2024, according to our econometric models.

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Spain Services PMI


Related Last Previous Unit Reference
Services PMI 55.80 59.80 points Dec/21
Manufacturing PMI 56.20 57.10 points Dec/21
Composite Pmi 55.40 58.30 points Dec/21

News Stream
Spain Services Sector Growth Eases to 8-Month Low
The IHS Markit Spain Services PMI fell to 55.8 in December of 2021 from 59.8 in the previous month, the lowest since April and below market expectations of 57.5. The Spanish service sector continued its recent run of expansion during December, with both activity and new business rising markedly again. However, compared to November, rates of growth were noticeably lower as the emergence of the Omicron variant of COVID-19 weighed on public confidence and demand. Optimism amongst service providers about the future subsequently also slipped, dropping to its lowest since the start of the year.
2022-01-05
Spain Services Activity Growth at 3-Month High
The IHS Markit Spain Services PMI rose to 59.8 in November of 2021 from 56.6 in the previous month and above expectations of 58.8. The latest reading pointed to the strongest growth in the services sector since September on the back of sharply rising levels of incoming new business. Associated capacity pressures encouraged further workforce expansion. That said, price pressures intensified, with operating expenses increasing at the fastest rate in over 22 years of data collection. Charges followed a similar trend. Finally, confidence about the future remained in positive territory during November, with firms optimistic that the recent positive trends in demand and activity will be sustained. However, there were concerns about the continued upward march of operating costs, whilst recent news of returns to lockdown and growing COVID restrictions in areas of Europe meant that confidence dropped to an eight-month low.
2021-12-03
Spain Services Sector Activity Rises at Softer Pace
The IHS Markit Spain Services PMI fell to 56.6 in October 2021, from 56.9 in the previous month but remained above market expectations of 55.8. The latest reading signaled growth for a seventh month in succession, albeit the softest since April, amid challenges related to securing goods and record price increases. Incoming new orders growth accelerated as COVID-19 restrictions continued to be lifted, while the pace of job creation improved to the best since July. In addition, backlogs of work rose for a seventh successive month. On the price front, input price inflation hit an all-time high due to labor expenses and higher prices for energy, utilities, transportation. Output charges were subsequently raised as firms tried to pass these costs onto clients, with average tariffs increasing to the strongest degree since June’s multi-decade high. Finally, service providers were optimistic about the year ahead.
2021-11-04

Spain Services PMI
The Markit Spain Services PMI (Purchasing Managers' Index) is based on data compiled from a representative panel of over 300 companies based in the Spanish service sector. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.