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Services PMI misses, but inflation pressures continue to ease

SPAIN DATA
  • "Elevated cost inflation has been a notable feature of the survey during recent months, and once again in August firms reported a considerable increase in their operating expenses. Fuel, energy and wages remained the principal sources of higher prices, which overall increased in August for a twenty-seventh successive month. That said, the rate of inflation maintained its recent downward trend, dropping to its weakest since last October. This helped explain a similarly sized fall in output price inflation which, in August, declined to its lowest level of the year so far."
  • "Weighing on activity growth was a modest drop in new business, the first contraction since January."

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