Latest data released by Markit - 5 July 2021
- Prior 59.4
- Composite PMI 62.4
- Prior 59.2
The recovery in the Spanish services sector continues with growth improving at its quickest pace since March 2000. Of note, activity, new business and employment conditions all rose substantially during the month of June. Markit notes that:
"Spain's service sector lifted off in June, as restrictions on economic activity continued to be eased and market activity subsequently jumped. Benefiting from noticeably higher sales, Spanish service providers enjoyed their best aggregate increase in activity since early 2000.
"Of note, sectors related to hospitality are enjoying a resurgence in activity, although perhaps of some worry will be the relative weakness in tourism, with restrictions and challenges on travel from key markets such as the UK weighing on growth.
"If these issues can be resolved then Spain will be on course for an even stronger growth profile in the coming months. Firms are certainly optimistic, with sentiment improving to a level that matched April's multi-year high and, reflective of the strengthening economic environment, companies ramped up their prices to the strongest degree since early 2000."
