Spain March services PMI 53.4 vs 54.2 expected

• Prior 56.6

Spain's services sector expanded once again but activity and new business saw slowdowns with confidence marked down noticeably amid the Russia-Ukraine conflict. Price trends remain a worry as input and output price 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 strengthened markedly on the month. S&P Global notes that:

“Spain's services economy expanded again in March, although perhaps unsurprisingly given the heightened uncertainty created by the war in Ukraine, rates of growth in both activity and new business weakened. Firms reported that clients were more cautious and a little hesitant in their decision-making.

"Moreover, amid rising energy and fuel bills, plus ongoing increases in vendor prices at a time of continued supplychain difficulties, operating expenses are rising at an unprecedented rate. With a transport strike adding to company woes, output price inflation also hit new heights as firms had little choice but to provide some protection for their margins.

"Despite this relatively gloomy backdrop - which hurt general confidence - firms still faced capacity constraints, seeking to recruit additional staff wherever possible. Moreover, further hope for near-term growth was provided by several firms noting that the easing of pandemic-related challenges had boosted activity during the month."