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.