Spain Service PMI Drops In September
Spain’s final service PMI dropped to 49.0 points lower in September, falling below the 50 threshold and lower than previous reading of 50.4 in the previous month, the Markit Economics reports confirmed.
“The Spanish service sector failed to show much sign of a recovery during September as activity fell back in response to weaker new order growth which itself had been supported by further sharp discounting. One bright spot from the latest survey was that companies were at their most optimistic about the future for nearly three-and-a-half years, suggesting that Spanish service providers are seeing some light at the end of the tunnel.” Andrew Harker, a senior economist at Markit commented.. Read more