Spanish Services PMI down in February

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Wednesday, Mar 04 2015

Spanish Services PMI posted 56.2 in February, missing forecasts on incline to 56.9 and down slightly from the reading of 56.7 seen in the previous month but still signalling a sharp increase in activity in the Spanish service sector.

Activity has now risen in each of the past 16 months, with panellists largely attributing the latest expansion to improving economic conditions. The strongest rises in activity were seen at Financial Intermediation and Transport & Storage companies. This pattern was repeated with regards to new business.

Euro was pushed lower during the opening of European part of the session and is currently being traded few points above 1.1120 level. Pair is likely to find support around 1.11 level and resistance above 1.1170 area. Later today, Italian Services PMI and Eurozone Retail Sales figures are scheduled for a release.

More in this category: « U.K. Construction PMI at 60.1 Italian Services PMI unchanged in February »

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