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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
Spanish services PMI for November was slightly below expectations at 51.0 (vs 51.5 cons; 51.5 prior), but the details suggest continued inflationary pressure and labour market tightness - albeit against the backdrop of continued economic uncertainty. Key notes from the release are:
- "Higher typical wage costs were widely reported to have driven up operating expenses in the latest survey period".
- "Output charges were again raised in response to increased costs, and latest data implied a stronger degree of pricing power amongst service providers".
- Firms saw an expansion in employment numbers (consistent with the falling services unemployment claims data released yesterday), with some noting "efforts to replace leavers amid some positive projections for growth".
- "Activity was supported by the provision of new services and to help facilitate the clearance of workloads at units", but constrained by "a lack of incoming new work".
- "Firms commented that market conditions remained subdued, with decision-making amongst clients characterised by a high degree of hesitation and uncertainty in the economic outlook".
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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