Spain February services PMI 56.6 vs 51.6 expected

• Prior 46.6

That is the best reading since November last year as Spanish services activity rebounds strongly from the omicron hit back in December and January. New business volumes picked up considerably with jobs growth observed being the best in three months. That said, cost pressures continue to persist with a record rise seen in output charges. That will be a thorn on the inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term front for the ECB. Markit notes that:

“A positive month for Spain’s service sector, with activity and new business rebounding sharply as the adverse impacts of the Omicron wave dissipated. “Of course, the challenges of the pandemic continue to linger, but there is a growing confidence amongst companies that sales and activity will continue to build over the coming year. Higher optimism subsequently helped explain a solid and stronger round of staff hiring.

“That said, price pressures remain a noticeable concern. Operating expenses continued to rise substantially and, perhaps most worrying for consumers and policymakers, firms showed a strong appetite to pass on these increased costs to clients by raising charges at an unprecedented rate.”