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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
The Spanish July services PMI was slightly weaker than expected at 53.9 (vs 55.0 cons, 56.8 prior), but still registered a 12th consecutive month of expansion.
The strong demand backdrop enabled firms to pass on increased input costs to consumers, though the rate of inflation continued to fall relative to June.
Key notes from the release:
- “Panellists continued to link higher activity to an increase in new order volumes”… “both from domestic and international clients”.
- “Higher employment levels served to raise typical salary costs during July, which were the principal driver of an overall increase in operating expenses”.
- “Several firms sought to raise their own charges as they took advantage of positive market conditions”.
- “That said, the rate of inflation was down since June, dropping to its lowest level since last September”.
- “Some firms are concerned that it will be hard to maintain activity at its present level”.
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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