2025.09.0307:28:18UTC+00Spain Services PMI Expands Less than Expected

The HCOB Spain Services PMI experienced a decline, registering at 53.2 in August 2025, down from a five-month high of 55.1 recorded in July. This figure also fell short of market predictions, which anticipated a reading of 54.9. Despite this, the sector continued its growth trajectory for the 24th consecutive month, largely driven by a second consecutive month of increases in new business. Some companies credited this rise to the completion of contract agreements that had previously faced delays. Additionally, businesses persisted in expanding their workforce, marking nearly three years of continuous employment growth, spurred by an ongoing increase in workload. On the inflationary front, cost pressures intensified, with input prices escalating at the most rapid pace since February, attributable to increased supplier fees and labor costs. Consequently, service providers elevated their selling prices at the fastest rate observed since April 2024. Nonetheless, the outlook for the business environment remained optimistic, bolstered by strategies to enhance products and services, which are expected to fuel growth in the upcoming year.