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Services activity in Spain continues to rise at start of 2016

Staff writer ▼ | February 5, 2016
Further solid growth of both activity and new business was recorded in the Spanish service sector during January.
Spain street food
Spain   Markit Spain Services PMI
Rising new work added to capacity pressures at companies, which they attempted to alleviate by taking on extra staff. On the price front, the rate of cost inflation remained muted amid falling fuel prices, while output prices decreased for the third month running.

The headline seasonally adjusted Business Activity Index posted 54.6 in January, remaining well above the 50.0 no-change mark and thereby signalling a further sharp rise in activity during the month.

Services output has now increased in each of the past 27 months, although the rate of expansion slowed again at the start of the year and was the weakest since December 2014.

Anecdotal evidence pointed to a general improvement in economic conditions over the month, supporting expansions in both activity and new business. New orders have risen continuously throughout the past two-and-a-half years, and the rate of growth picked up slightly in January.