Spanish services activity decelerated in October
- Spanish services sector decelerated to 13-month low
- Spanish services are still comfortably strong
Spanish services PMI fell to 54.6 in October down from 56.7 in September, as sentiment dips to a 13-month low amid uncertainty surrounding the northern separatist region of Catalonia.
The general picture is positive, with Spanish service sector remaining comfortably in growth territory during October, seeing marked increases in activity and new business, as well as a faster pace of job creation.
“Overall service sector performance improved again in October as the Spanish economy maintained a solid growth trend. Particularly pleasing was a pick up in the rate of job creation, suggesting companies remain confident as to the sustainability of the recovery,” Andrew Harker, associate director at PMI wrote in the report on Monday.