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SPAIN DATA: Firms Protect Profit Margins In August Services PMI

SPAIN DATA
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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.

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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.

Keep reading...Show less