Spain November services PMI 51.2 vs 50.5 expected

• Prior 49.7

Spain's services sector signaled a modest growth in November, with both business activity and new orders expanding once again. That said, price pressures continued to rise markedly and is weighing on the overall outlook for the most part. S&P Global notes that:

“Given the context of cost-of-living challenges, high 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, rising interest rates and widespread economic uncertainty, it was somewhat surprising to see a return to growth of business activity during November and a welcome improvement in sales for the first time in four months.

“Whether these upward trends can be sustained remains to be seen, with operating costs again rising sharply and continuing to place pressure on budgets both for companies and their clients. Subsequently, the outlook remains unusually unclear, and this was reflected by respondents signalling considerable uncertainty on where activity will end up in 12 months’ time.”