Spain’s service industry maintained its positive momentum in October, with business activity continuing to grow, although the pace of incoming orders showed signs of moderation. According to the latest S&P Global survey, domestic demand remained supportive, but declining overseas sales restricted the overall increase in new business. Despite this slowdown, companies continued to expand their workforce, reflecting confidence in the sector’s future performance.
Business expectations also remained encouraging, suggesting that service providers anticipate further improvements in activity. However, rising operating expenses emerged as a growing concern. Higher energy, fuel, and transport costs pushed input price inflation to its strongest level since March, increasing cost pressures on businesses. The latest figures from the S&P Global Services PMI® indicated that Spain’s service sector continued to demonstrate resilience in October, despite mounting cost pressures and weaker international demand … (full story)
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