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.

Services PMI in Spain averaged 51.40 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 September of 2020. source: Markit Economics

Services PMI in Spain is expected to be 46.20 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 53.70 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.

Ok
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Spain Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
47.70 51.90 60.30 7.10 2011 - 2020 points Monthly


News Stream
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 Service Sector Returns to Growth in June
The IHS Markit Spain Services PMI rose to 50.2 in June 2020 from 27.9 in the previous month, easily beating market expectations of 45.9 and suggesting there was a stabilization in activity following the recent steep downturn caused by the coronavirus pandemic. New business volumes increased slightly, with several companies reporting that the virus continued to have an adverse impact on demand, while backlogs of unfinished work declined for a fourth successive month and staffing levels were also cut again. On the price front, input costs rebounded firmly in June, following two months of unprecedented declines. Output charges, however, continued to drop as the business environment remained extremely challenging and companies were offering lower charges to clients in a bid to maintain business and secure new work. Looking ahead, business confidence improved to the best since February.
2020-07-03
Spain Services PMI Rebounds from Record Low
The IHS Markit Spain Services PMI increased to 27.9 in May of 2020 from a record low of 7.1 in April and above market expectations of 25. Still, the reading pointed to a sharp decline in the services sector as activity, new business and employment continued to decline although at a slower pace. Whilst lockdown measures designed to stem the spread of COVID-19 were less restrictive compared to April - which led to the reopening of some business premises - underlying economic activity and demand for services remained extremely weak. Deflationary pressures persisted, with both input and output charges continuing to fall. Finally, business confidence improved noticeably in May following April’s record low, but remained in negative territory amid worries about the longer-term impact on consumption and broader economic activity from the COVID-19 pandemic.
2020-06-03

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.