Spanish Services PMI (Dec) 57.1 vs. Exp. 54.5 (Prev. 55.6)

The Spanish Services PMI beat expectations, signaling stronger than anticipated growth in the services sector, which could bolster confidence in the broader economy.

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Italian HCOB Services PMI (Dec) 51.5 vs. Exp. 54.2 (Prev. 55.0)

[MARKET UPDATE] Pressure seen across US equity futures, with the NQ pulling back to around the unchanged mark vs initial gains of 0.3%; a move which lacks a clear driver, but does follow pressure in the Nikkei 225 futures on Chinese export bans to Japan

Spanish Services PMI (Dec) 57.1 vs. Exp. 54.5 (Prev. 55.6)

Volkswagen (VOW3 GY) Group of America is recalling 356.6k US vehicles, according to NHTSA

EUROPEAN OPEN: GS raises Stoxx 600 PT; ENI IM & REP SM struggle to recover Venezuela payments; NESN SW recall; ABI BB to re-acquire stake in US metal container plants for USD 3bln; NXT LN lifts outlook

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  • “Looking ahead to 2026, the outlook for services remains upbeat: order books are solid, and recent data suggest that last month’s dip in export orders was likely a temporary blip. Companies are responding by expanding their workforce, with a notable increase in permanent contracts, a clear sign of confidence in medium-term demand.”
Context

The positive outlook for 2026 suggests that businesses are preparing for sustained demand by expanding their workforce, indicating a potential for increased consumer spending and investment, with implications for Eurozone growth and ECB policy considerations.

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