The IHS Markit Spain Services PMI dropped 41.4 in October 2020 from 42.4 in September but above market expectations of 40. The reading pointed to the third consecutive contraction in the services sector and the sharpest since May. Both activity and new orders shrank at the fastest pace in five months with firms indicating that rising infections and worries amongst consumers regarding the pandemic undermined sales. Also, export orders declined sharply and for the eighteenth successive month while the job shedding rate eased to its weakest in the current eight-month period of contraction. On the price front, input price inflation rose boosted by higher labour and transportation cost, while output charges fell for an eighth straight month with the rate of deflation slowing to a four-month low. Finally, sentiment improved to its highest level since June lifted by hopes of a strong recovery in demand and sales once the current situation regarding COVID-19 was brought under control. source: Markit Economics

Services PMI in Spain averaged 51.24 points from 2011 until 2020, reaching an all time high of 60.30 points in April of 2015 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 November of 2020.

Services PMI in Spain is expected to be 48.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Spain to stand at 52.50 in 12 months time. In the long-term, the Spain Services PMI is projected to trend around 52.90 points in 2021 and 54.40 points in 2022, according to our econometric models.

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Spain Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
41.40 42.40 60.30 7.10 2011 - 2020 points Monthly


News Stream
Spain Services Sector Shrinks at a Faster Pace
The IHS Markit Spain Services PMI dropped 41.4 in October 2020 from 42.4 in September but above market expectations of 40. The reading pointed to the third consecutive contraction in the services sector and the sharpest since May. Both activity and new orders shrank at the fastest pace in five months with firms indicating that rising infections and worries amongst consumers regarding the pandemic undermined sales. Also, export orders declined sharply and for the eighteenth successive month while the job shedding rate eased to its weakest in the current eight-month period of contraction. On the price front, input price inflation rose boosted by higher labour and transportation cost, while output charges fell for an eighth straight month with the rate of deflation slowing to a four-month low. Finally, sentiment improved to its highest level since June lifted by hopes of a strong recovery in demand and sales once the current situation regarding COVID-19 was brought under control.
2020-11-04
Spain Services Contraction Intensifies
The IHS Markit Spain Services PMI slumped to 42.4 in September 2020 from 47.7 in the previous month, well below market expectations of 46.3. The latest reading indicated an accelerated rate of contraction that was the sharpest since May. Incoming new work fell for the third month in a row amid reports of an intensification of the COVID-19 crisis, with new export orders down severely and for a seventeenth successive month as quarantine restrictions on travelers from abroad were having a noticeable impact on business. In addition, work outstanding and employment declined for a seventh successive month. On the price front, operating expenses continued to rise, while output charges fell again due to weak demand and competitive pressures. Finally, confidence about the future improved to a three-month high, though remaining well below the historical average, on hopes of a strong resumption of activity and sales once the pandemic was brought under control.
2020-10-05
Spain Services Sector Returns to Contraction
The IHS Markit Spain Services PMI fell to 47.7 in August of 2020 from 51.9 in the previous month and below market expectations of 48. The reading represented a return to falling activity following two months of growth, amid reports that fresh outbreaks of the global coronavirus disease 2019 pandemic was depressing tourist activity and leading to ongoing uncertainty. New orders declined for a second successive survey period and at the fastest rate since May; backlogs of work declined for a sixth successive month, and job losses were again recorded. On the price front, input costs increased for third month, although the latest rise in costs was the weakest in this sequence; while output prices dropped markedly and extended the current period of falling prices to six months. Confidence about the future softened to a three-month low as an increasing number of firms signalled worries about the trajectory of the COVID-19 pandemic and its impact on economic activity.
2020-09-03
Spain Services Sector Continues to Recover
The IHS Markit Spain Services PMI rose to 51.9 in July 2020 from 50.2 in the previous month but slightly below market expectations of 52. The reading pointed to the second consecutive expansion in the services sector and the sharpest since February, as businesses continued to restart operations following lockdowns due to the coronavirus pandemic. Output rose modestly while new orders fell back into contraction territory albeit marginally. Job losses were also recorded despite reports of some staff being brought back from furlough. On the price front, input cost inflation slowed while output charges continued to drop. Lastly, sentiment remained positive, still well below its historical trend with many firms signalling considerable uncertainties about the future and worries over a ‘second wave’ and its impact.
2020-08-05

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.