The Spanish service sector remained well inside growth territory during June, despite rates of expansion in activity and new business easing slightly from May. Employment continued to rise at one of the fastest rates in the past 11 years. Meanwhile, the rate of input cost inflation accelerated to the steepest in almost a decade on the back of higher costs for fuel and staff. Output prices also increased, albeit modestly.
The headline seasonally adjusted Business Activity Index posted 55.4 in June, down slightly from 56.4 in May but still pointing to a marked monthly increase in service sector business activity. Growth has now been recorded in each of the past 56 months. Panellists suggested that the latest rise in activity reflected an improving economic climate.
Last modified on Thursday, 05 July 2018