- Services PMI: 56.2 vs. 56 expected and 56.1 previously.
- Composite PMI 55.7 vs. 55.3 previously.
Key findings:
- Stronger gains in activity, although new business growth slows.
- The numbers of jobs are increasing sharply.
- Inflation rates remain high.
comment:
Commenting on the PMI data, Jonas Wildhusen, Junior Economist at Hamburg Commercial Bank, said:
“Spanish service providers consistently impress with their performance. The HCOB PMI confirms the rise in the services sector – activity remains consistently positive in April. The associated index remains at a high level at 56.2 points.
“Activity is driven by a consistently high-level situation. Despite recent tensions due to high demand for Spanish services abroad, especially in tourism, which has led to internal political unrest such as protests in Gran Canaria, foreign orders continue to grow. Service providers continue Spaniards look optimistically towards the future and although the associated future activity index has declined slightly, it is still above its long-term average.
“On the price front, concerns persist as service providers continue to face rising input costs. However, there is still hope as inflation momentum slows for the second month in a row. Consumers are pleased that this momentum is also being reflected in sales prices, allowing businesses to implement Price increases at a slightly slower pace.