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Spanish Services PMI falls to 55.1

Wednesday, Aug 03 2016

The Spanish service sector remained comfortably in growth territory in July, with further solid rises in activity and new business recorded. The rate of job creation remained marked, having eased only slightly from the previous month’s recent high. Business sentiment eased, but remained positive. Meanwhile, rates of inflation of both input costs and output prices accelerated but remained muted.

The headline seasonally adjusted Business Activity Index dropped slightly to 54.1 in July from 56.0 in June. The reading signalled a further solid expansion in activity, albeit the weakest since February. Service sector output has now risen in each of the past 33 months, with panellists reporting the launch of new services and signs of improving client demand.

 

Euro is currently being traded around 1.12 area. Pair is likely to find support around 1.1150 handle and resistance above 1.1250 level.

Last modified on Wednesday, 03 August 2016
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