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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
The Spanish May services PMI was stronger-than-expected at 56.9 (vs 56.5 cons, 56.2 prior), mirroring the outperformance seen in the manufacturing PMI on Monday. The composite PMI was 56.6 (vs 56.2 cons, 55.7 prior).
Details suggest a still-tight labour market continues to put upward pressure on input prices, with labour-driven capacity constraints and increases in wages cited.
Key notes from the release:
- “Driving activity higher was a marked and accelerated increase in new business”…”Panellists noted that demand had improved, and they had greater success in securing new customers”.
- “Service providers added to their workforce numbers in response to the accelerated growth in activity”… “However, staff numbers were deemed to be insufficient in several cases, and this helped to explain another rise in work outstanding”.
- “input costs continued to rise steeply. Wages and salaries were widely reported as the principal drivers”.. “In response, many companies increased their own charges”.
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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