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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 firms continued to protect profit margins according to the August PMI, passing on increases in input costs to consumers. However, the overall index remains in expansionary territory (for the 12th consecutive month), driven by continued increases in new business.
The services PMI was slightly lower than expected at 54.6 (vs 54.9 cons, 53.9 prior), with the composite index (53.5 vs 54.3 cons, 53.4 prior) also a little below consensus following Monday’s manufacturing PMI.
Key notes from release:
- “Panellists reported that market demand remained positive, both at home and abroad”
- “Higher workloads remained the primary reason why firms took on extra staff, though firms struggled to keep on top of their overall new business volumes”.
- “Firms noted that typical salary costs continued to increase during August and remained a primary factor driving overall operating expenses higher over the month”
- “Service providers continued to signal efforts to protect margins by raising their own prices again in August”
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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