Activity in the Spanish service sector decreased for the thirteenth consecutive month in July as the ongoing economic crisis impacted business conditions negatively, data from a survey by Markit Economics showed Friday.
The seasonally adjusted purchasing managers' index (PMI) for the manufacturing sector came in at 43.7 in July, staying below the no-change 50 mark - which separates growth from contraction - for the thirteenth month in a row. The latest reading was slightly above June's reading of 43.4.
New orders received by Spanish service providers decreased at fastest pace since October 2011 as clients were hesitant to embark on new projects given deteriorating economic conditions. Firms reduced their workforces at a faster pace during the month. Employment has now fallen in each of the past 53 months.
Input prices increased marginally in July, following a slight fall in the previous month. Meanwhile, output prices decreased further as companies attempted to boost new business.
The survey showed that confidence among entrepreneurs in the service sector deteriorated to the lowest level in thirty-eight months.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.