Spanish S&P Global Services PMI (May) 50.1 vs. Exp. 48
- “Some stability in demand and activity following April’s contractions were a welcome development in May and provides hope that the economic downturn in Spain will be relatively shallow."
- Despite this, "...underlying performance remains weak, and the private service sector is still on course for its worst calendar quarter in over five years."
- "...activity likely to remain weak and inflation well above trend."
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