Spanish Services PMI rose to the highest level since November

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Tuesday, Apr 05 2016

Growth in the Spanish service sector quickened at the end of the first quarter of the year, with both activity and new orders rising at the fastest rates in four months. The headline seasonally adjusted Business Activity Index rose to 55.3 in March, up from 54.1 in February and pointing to the sharpest increase in activity since last November. Business activity has now expanded in each of the past 29 months, with higher new orders and rising customer numbers supporting the latest increase.

Business activity in Italy’s services economy rose at the slowest rate for 13 months in March, reflecting a weakening of new business growth. Employment increased only marginally as companies recorded the steepest drop in backlogs of work since December 2014. The headline Markit/ADACI Business Activity Index dropped from February’s 53.8 to 51.2 in March. That was its lowest reading since February 2015, and one that was indicative of only a modest rate of expansion overall.

Euro is currently being traded few points below 1.1380 level. Pair is likely to find support around 1.13 handle and resistance above 1.1430 level. Later today, in the US session, Trade Balance, Non-Manufacturing PMI and JOLTS Job Openings figures are scheduled for a release.

More in this category: « RBA leaves interest rates unchanged UK Services PMI increased to 53.7 »

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