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Financial News: Spain Services Sector Growth Weakens In April

Spain Services Sector Growth Weakens In April

05/04/2018 - 03:28:00 (RTTNews)

(RTTNews) - Spain's services activity growth moderated in April to the weakest level seen so far this year, data from IHS Markit showed Friday.

The services Purchasing Managers' Index fell more-than-expected to 55.6 in April from 56.2 in March. The score was forecast to drop marginally to 56.1. Nonetheless, a score above 50 indicates expansion.

The latest growth was underpinned by a further strong rise in new business but there were some signs of companies offering discounts in order to secure new work.

Staffing levels increased for the forty-third month running, albeit at the slowest pace since February 2017.

On price front, stable output prices were recorded in spite of further input cost inflation.

Companies remain confident that activity will increase over the coming year. Sentiment picked up to a ten-month high in April amid expectations of favorable economic conditions.

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