According to respondents, improving economic conditions were central to the strengthening of business conditions in January, with a positive economic environment cited as a factor behind rises in activity and new orders. Financial Intermediation was the best-performing sector, seeing the strongest increases in output and employment and a sharp rise in new business.
Spanish Services PMI rose to 56.9
Growth in the Spanish service sector picked up pace at the start of 2018, with sharper increases in activity and new business recorded. The rate of job creation remained elevated, while business confidence reached a seven-month high. On the price front, inflation of both input costs and output charges hit multi-year highs. The headline seasonally adjusted Business Activity Index rose to 56.9 in January from 54.6 in December. The steep rise in activity was the fastest since July 2017. Activity has increased continuously since November 2013.
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