Spain August services PMI 60.1 vs 61.4 expected

Author: Justin Low | Category: News

Latest data released by Markit - 3 September 2021

  • Prior 61.9
  • Composite PMI 60.6
  • Prior 61.2
The reading reaffirms further moderation in overall activity from the 21-year high in June but they are still at elevated levels, with companies also remaining confident of continued growth in the year ahead. Markit notes that:

"The current strong growth phase in the Spanish service sector was sustained during August as the economy continues to benefit from a loosening of lockdown restrictions and successful vaccine rollout. With new orders rising at a faster pace, firms were keen to hire additional staff, including welcoming back more workers from furlough.

"There were some positive signs on international demand as new export business increased to the greatest extent for six years. The expansion was still short of that seen for total new orders, however, as international travel remains some way from normality. Companies will be hoping that international travel can open up more soon to help boost the sector as the summer season draws to a close."

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