Spanish HCOB Services PMI (Feb) 51.9 vs. Exp. 52.8 (Prev. 53.5)
Importance
Level 1
- “The service sector is losing steam. This applies both to demand-driven business activity and to new orders, as well as hiring intentions. Several panellists report that market demand has been cooling since the beginning of the year."
- “Price dynamics remain a point of concern in Spain’s services economy. Input price inflation, which is strongly influenced by wage pressures, accelerated to its fastest pace in a year. These cost increases are being passed where possible directly through to output prices."
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