La sagrada familia in Spain

Spain PMI March 2024

Spain: Spain services PMI shows accelerated growth in March

The HCOB Spain Services Purchasing Managers’ Index (PMI) rose to 56.1 in March from 54.7 in February. As a result, the index moved further above the 50.0 no-change threshold, and signaled a faster improvement in services sector operating conditions compared to the previous month.

The key drivers behind the latest PMI reading include a marked and accelerated increase in new business volumes, which has stretched capacity and led firms to hire additional staff.

On the pricing front, average operating expenses saw a sharp increase in March. Firms have attempted to pass these increased costs onto clients, leading to a continued rise in output charges and extending the inflationary trend to three years. Business sentiment remained positive, albeit slightly lower than February’s two-year high, buoyed by expectations of sustained sales growth and an improving economic environment.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen