Spanish S&P Global Services PMI (Mar) 53.3 vs. Exp. 50.5 (Prev. 51.9)

"Spain’s economy has experienced a weaker growth profile overall in the first quarter of 2026. Expect therefore official data on GDP for early 2026 to show a slower rate of expansion than the 0.8% quarterly gain reported for the fourth quarter of 2025."
"The conflict has already led to a huge degree of business and consumer uncertainty, with panellists noting that services new business growth has softened, and export business, already under strain before the start of the war, has deteriorated sharply."
“Services firms are seeing big spikes in their energy and fuel bills, leading to the strongest increase in overall input costs for nearly three years. With output charges also rising markedly, firms are understandably worried about the impact that high prices will have on spending in the near-term – and therefore their business performance over the coming months.”