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. source: Markit Economics

Services PMI in Spain averaged 51.13 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 July 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. Looking forward, we estimate Services PMI in Spain to stand at 54.20 in 12 months time. 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
62.50 59.40 62.50 7.10 2011 - 2021 points Monthly


News Stream
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
Spanish Service Sector Returns to Growth
The IHS Markit Spain Services PMI jumped to 54.6 in April of 2021 from 48.1 in March, easily beating market expectations of 50 and pointing to not only the first rise in activity since last July but also the strongest growth since the end of 2019. Higher activity was linked to a combination of firmer demand, the reopening of business premises, and rising prospects amid a generally improving situation related to COVID-19. Companies reported that sales volumes had risen to the strongest degree since August 2019, driven by the domestic market as new export business continued to decline. Also, firms took on additional staff for the first time in over a year. On the price front, overall operating expenses increased to the greatest degree since August 2008; and output charges increased for the first time for over a year. Finally, business expectations rose to their highest since February 2004 with over 60% of companies anticipating a rise in activity from present levels in 12 months’ time.
2021-05-05
Spain Services Activity Shrinks the Least in 8 Months
The IHS Markit Spain Services PMI rose to 48.1 in March of 2021 from 43.1 in the previous month and above market expectations of 46. The latest reading pointed to the slowest rate of contraction in the current eight-month sequence of declines. Although sales overall declined, mainly due to a drop in foreign business, especially in tourism and hospitality services, the overall pace of contraction was modest, and the weakest recorded by the survey since last July. Firms nonetheless continued to cut their staffing levels, extending the current period of job shedding to over a year – although the pace of contraction was comfortably the weakest in the current sequence. Margins also remained under pressure, with firms reporting another noticeable increase in operating expenses, but a slight drop in output charges. Finally, confidence about the future remained positive during March, and was little changed on February’s near three-year high.
2021-04-07

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.