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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SPAIN DATA
The Spanish June services PMI was stronger than expected at 56.8 (vs 56.4 cons, 56.9 prior). This is now the tenth consecutive month that the services index has printed in expansionary territory.
In contrast to the Spanish manufacturing PMI, services firms passed on increased input costs (which were largely wage-driven) to consumers, keeping output charge inflation elevated.
Key notes from the release:
- “Firms commented that sales volumes had simply risen on the back of higher market demand”.
- “Panellists commented that job creation reflected a mixture of current and expected activity requirements”.
- “Companies are widely expecting that macroeconomic conditions will improve in the coming 12 months, helped by lower interest rates and reduced inflation”.
- “Labour expenses were seen as being a key contributor to another round of higher operating costs. Whilst inflation was lower compared to May, it remained elevated and well above its historical trend”.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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