The IHS Markit Spain Services PMI declined to 60.1 in August 2021 from 61.9 in July, missing market expectations of 61.5. New business growth rose slightly faster than in July amid stronger customer demand as the pandemic receded further, as well as an improvement in international demand, with new export sales hitting an over 6-year high. Backlogs of work rose for a fifth successive month, with the rate of growth easing from July’s 21-1/2-year high. Employment rose for a fifth month in a row, partially helped by the return of employees from furlough in the Hotels & Restaurant sector. On the price front, the rate of input cost inflation was again considerable although easing for the second straight month, contrasting with a much more moderate rate of selling price inflation. Lastly, the 12-month business outlook remained well above the series average, on hopes that the impact from the pandemic in the economy will continue to decrease, largely due to the vaccination drive. source: Markit Economics

Services PMI in Spain averaged 51.29 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 September of 2021.

Services PMI in Spain is expected to be 58.50 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 2022 and 54.40 points in 2023, according to our econometric models.

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Spain Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
60.10 61.90 62.50 7.10 2011 - 2021 points Monthly


News Stream
Spain Service Sector Growth Eases More than Expected
The IHS Markit Spain Services PMI declined to 60.1 in August 2021 from 61.9 in July, missing market expectations of 61.5. New business growth rose slightly faster than in July amid stronger customer demand as the pandemic receded further, as well as an improvement in international demand, with new export sales hitting an over 6-year high. Backlogs of work rose for a fifth successive month, with the rate of growth easing from July’s 21-1/2-year high. Employment rose for a fifth month in a row, partially helped by the return of employees from furlough in the Hotels & Restaurant sector. On the price front, the rate of input cost inflation was again considerable although easing for the second straight month, contrasting with a much more moderate rate of selling price inflation. Lastly, the 12-month business outlook remained well above the series average, on hopes that the impact from the pandemic in the economy will continue to decrease, largely due to the vaccination drive.
2021-09-03
Spain Service Sector Growth Remains Elevated
The IHS Markit Spain Services PMI fell to 61.9 in July 2021 from 62.5 in June, which was the best in over 21 years. Still, growth remains extremely elevated and comfortably above the survey average. New export sales continued to rise at a solid pace, although there were some reports that increased infection numbers due to the emergence of the delta variant of COVID-19 had weighed on foreign demand with the cancellation of some orders reported. Backlogs of work rose for a fourth successive month, with the rate of growth accelerating to the fastest since February 2000. Employment rose for a fourth month in a row, with not only higher sales, but the reopening of facilities and the return from furlough of staff also underpinning hiring activity. On the price front, the rate of inflation was again considerable although easing since June’s recent high. Finally, confidence about the future eased to a four-month low amid some concern over the recent rise in COVID-19 infection numbers.
2021-08-04
Spain Service Sector Growth Strongest in 21 Years
The IHS Markit Spain Services PMI rose to 62.5 in June 2021, up from 59.4 in the previous month and above market expectations of 60.6. The latest reading signaled the strongest growth of the sector since March 2000, due to the continued easing of COVID-19 restrictions and the reopening of facilities previously shuttered due to the pandemic. New work rose the most since June 2000, although demand sources were primarily domestic based, while levels of work outstanding increased to the sharpest degree since July 2007. In addition, the pace of job creation was the fastest in over three years. On the price front, input costs rose the most since July 2008 and output charges increased at the fastest rate since February 2000. Finally, confidence about the future was also the joint-highest since February 2004.
2021-07-05
Spain Service Sector Expands at Fastest Rate Since 2015
The IHS Markit Spain Services PMI rose to 59.4 in May 2021, from 54.6 in the previous month and above market consensus of 58.0. The latest reading signaled a back-to-back increase in activity levels and the single strongest monthly growth recorded by the survey since August 2015, following a lifting of COVID-19 restrictions. New business volumes increased the most since the start of 2018, boosted by a solid growth of domestic demand and the first rise in new export business for over two years. Backlogs of work outstanding rose the most since July 2015 and the pace of job creation was the sharpest recorded by the survey for over two years. On a more negative note, cost pressures intensified to the greatest degree since the summer of 2008. Looking ahead, business sentiment was little-changed from April's 17-year high.
2021-06-03

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.