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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.
SPAIN DATA
MNI (London)
SPAIN FEB SERVICES PMI 56.7 (FCST 53.7); JAN 52.7
- Spanish services jumped four points to a firmly expansive 56.7 in the February PMI print, outpacing forecasts of a more modest one-point uptick.
- This is the fourth month of growth and the highest services PMI since April 2022. Growth momentum stemmed from robust demand and employment in February.
- Yet the increase in service prices implies that further strength in the sector will add to inflationary pressures. Output cost inflation accelerated by the strongest rate on record in February, driven by strong wage pressures and energy costs.
- Yesterday Eurozone February core HICP accelerated by a surprise 0.3pp to a fresh euro-era high of +5.6% y/y, underpinned by the 0.4pp increase in services inflation.
- Further evidence of robust service cost inflation will continue to underline hawkish sentiment at the ECB.
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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