The headline seasonally adjusted Business Activity Index posted 54.6 in October, down from 56.7 in September. Output has now risen on a monthly basis throughout the past four years. The latest expansion was marked, but the slowest since January. Central to the latest increase in output was rising client activity amid stronger market conditions. On the other hand, some panellists indicated that the political situation in Catalonia restricted growth.
Spanish Services PMI declined to 54.6
The Spanish service sector remained comfortably in growth territory during October, seeing marked increases in activity and new business, as well as a faster pace of job creation. That said, the rate of expansion in business activity was the slowest since January amid reports that political uncertainty in Catalonia dampened growth. Similarly, business confidence dipped to the lowest in just over a year.
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