The IHS Markit Spain Services PMI slid to 7.1 in April of 2020 from 23 in the previous month and worse than market expectations of 10. The reading pointed to a fresh record contraction in the services sector, as government restrictions on non-essential economic activities inevitably impacted heavily on activity and demand. Record falls in service sector output and new business were recorded, whilst the sharp reduction in workloads and heightened pessimism about the future led to widescale job losses. All of the sub-sectors that data are collected for recorded considerable drops in business activity when compared to March. Of note, however, Hotels & Restaurants and Transport & Storage were again especially hard hit, with these two subsectors suffering the sharpest contractions of all categories in April. Pessimism about the future sank to a new survey low, amid worries over the long-term impacts from the pandemic on demand, activity and the health of companies and consumers.

Services PMI in Spain averaged 51.66 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 May of 2020. source: Markit Economics

Services PMI in Spain is expected to be 38.00 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 51.00 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
7.10 23.00 60.30 7.10 2011 - 2020 points Monthly


News Stream
Spain Services Sector Shrinks at Record Pace
The IHS Markit Spain Services PMI slid to 7.1 in April of 2020 from 23 in the previous month and worse than market expectations of 10. The reading pointed to a fresh record contraction in the services sector, as government restrictions on non-essential economic activities inevitably impacted heavily activity and demand. Record falls in output and new business were recorded, whilst the sharp reduction in workloads and heightened pessimism about the future led to widescale job losses. All of the sub-sectors that data are collected for recorded considerable drops in business activity when compared to March. Of note, however, Hotels & Restaurants and Transport & Storage were again especially hard hit, with these two subsectors suffering the sharpest contractions of all categories in April. Pessimism about the future sank to a new survey low, amid worries over the long-term impacts from the pandemic on demand, activity and the health of companies and consumers.
2020-05-06
Spain Services Sector Shrinks at Record Pace
The IHS Markit Spain Services PMI fell to 23 in March of 2020 from 52.1 in February and worse than market expectations of 25.5. The reading pointed to a record contraction in the services sector as many firms were either forced to temporarily close or struggled to conduct business in the face of the COVID-19 pandemic and related government measures to control the outbreak. The Hotels & Restaurants sector was especially hard hit while only Financial Intermediation companies recorded any growth in activity. Both activity and new orders fell at record paces; job shedding was the highest since the height of the financial crisis; and confidence sank to record low levels.
2020-04-03
Spain Services Activity Growth at Over 6-Year Low
The IHS Markit Spain Services PMI fell to 52.1 in February 2020 from 52.3 in the previous month and missing market expectations of 52.5. The latest reading pointed to the weakest expansion in services activity since November 2013, as new orders rose at the softest rate in over six years and export sales dropped for the tenth month in a row and at a near series-record pace, due to the impact on confidence and activity of the coronavirus outbreak. Also, the job creation rate slowed to a 4-month low. On the price front, input prices advanced at the steepest pace since August 2008; and output charges rose marginally. Lastly, firms remained confident overall boosted by new commercial ventures and planned introduction of fresh services, still concerns regarding the impact of the coronavirus on near-term activity and ongoing domestic political uncertainty weighed on optimism.
2020-03-04
Political Uncertainty Weighs on Spanish Services: PMI
The IHS Markit Spain Services PMI fell to 52.3 in January of 2020 from 54.9 in December, well below market expectations of 53.9. The reading pointed to the smallest growth in services activity since November of 2013 as political uncertainties weighed on demand and business confidence. The downturn in business activity growth was closely linked to similar weaker gains in new work. Retail Sales increased at the slowest rate since September 2013 and foreign sales fell for the ninth month amid global uncertainties related to Brexit and global trade wars. Still, employment continued to rise although at a slower pace. Input prices increased sharply due to rising labour costs and higher fuel. Whilst service providers sought to pass on their increased costs to clients, output charge inflation was only marginal in January. Finally, confidence about the future sank to its joint lowest level in over six years (matching that seen last August), amid political uncertainties in the country.
2020-02-05

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.