Spain October services PMI 49.7 vs 48.3 expected

The reading is better than expected, but still shows a contraction in service activity in Spain, as demand remains weak. Price pressure increased again, and both the prices of production inputs and production fees increased sharply and rapidly compared to the previous month. SandP Global states that: „Amid elevated inflation and unusually high uncertainty about the economic outlook, activity in Spain’s service sector was understandably subdued in October. New business declined again as clients put earlier plans to increase their activity. spending and investment. „The net effect was production and a decline in new business, which added stress to the company as costs rose and challenges were passed on to customers during a decline in market demand. It is not surprising that companies hesitate to think about future actions later, and confidence in the outlook is again subject to the end of the year.

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