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Financial News: Spain's Service Sector Expands In March

Spain's Service Sector Expands In March

04/05/2018 - 03:33:00 (RTTNews)

(RTTNews) - Spain's services sector expanded strongly in March but the pace of growth moderated since February, data from IHS Markit showed Thursday.

The headline services Purchasing Managers' Index fell to 56.2 in March from 57.3 in February. A score above 50 indicates expansion.

Growth has now been recorded in each of the past 53 months, with panelists linking the latest rise to higher new orders amid strengthening customer demand.

While business activity increased at a slower pace in March, the opposite was true of new orders which expanded more quickly than seen in February.

Data showed that service providers registered the fastest rise in employment in over 11 years at the end of the first quarter of 2018.

Input costs increased sharply, with the rate of inflation unchanged from that seen in February. Service providers continued to increase their output prices, extending the current sequence of inflation to 17 months.

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