He HCOB PMI INDEX OF THE SPANISH SERVICES SECTORS He maintained his growth in March but fell 1.5 points, standing at 54.7 compared to 56.2, its lowest level in four months. The figure is below market expectations, which provided for a rise to 55.5.
According to the statement, The activity of the Spanish services sector continued to expand in Marchsince the volume of new orders continued to increase, although at a slower pace. Employment growth is maintained thanks to optimistic perspectives regarding the activity. The increase in staff costs promotes a new increase in operating expenses.
Jonas Feldhusen, Junior Economist of Hamburg Commercial Bankhe said: “The Spanish private sector economy is growing sustainably in March, but at a decreasing rate, since the HCob PMI compound index was 54.0, compared to 55.1 registered in February. This weakest result in general is due to the moderation of growth in the services sector and the continuous weakness of the manufacturing sector. In the services sector, it is observed that the commercial activity and the growth of the new requests and the growth of the new requests They keep at comfortably high levels, although the index values ​​were moderated compared to the previous month.
Euro reaction
The EUR/USD has fallen 40 pips coinciding with the publication of the indicator, and quotes at the time of writing about 1,0955, still earning an important 0.92% in the day. The pair has strengthened after the tariffs announced by Donald Trump, reaching a six -month ceiling in 1,0990 on Thursday.
Economic indicator
PMI Global S&P Services
The index of purchase managers (PMI) services published by the Markit Economics Capture business conditions in the service sector. The PMI is an important indicator of the business conditions and the economic conditions of Spain. A reading exceeding 50 points indicates expansion in economic activity, while a reading of less than 50 points implies a decrease in activity. A result superior to what is expected is bullish for the euro, while a result less than consensus is bassist.
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Last publication: PLAY APR 03, 2025 07:15
Frequency: Monthly
Current: 54.7
Dear: 55.5
Previous: 56.2
Fountain: S&P global
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
