Spain's services activity expands in December - Breaking The News

Spain's services activity expands in December

6 January

1 min read

UNSPLASH / HOYOUN_LEE

Spain's service sector improved in December, with the main figure landing above the neutral 50 to mark overall growth, according to a report by S&P Global and Hamburg Commercial Bank (HCOB) published on Monday.

The seasonally adjusted figure showed the HCOB Spain Services PMI Business Activity Index at 57.3, rising compared to last month's figure of 53.1, and posting the strongest monthly rise in business activity since April 2023. Companies attributed the upturn in growth principally to strong underlying demand for their services.

"In the services sector, activity increased significantly in December, which is also reflected in an improved order situation. Additionally, the effects of the DANA weather phenomenon, which caused flooding in the Valencia region, have led to numerous insurance and reconstruction cases, generating additional orders," Junior Economist at Hamburg Commercial Bank Jonas Feldhusen commented.

data services pmi

Baker Hughes: US oil rig count up by one to 487

17 hours ago

The number of oil rigs in the United States rose by one to stand at 487 in the week ending March 14, according to the Baker Hughes weekly rig count released on Friday. The rig count dropped by 23 on an annual basis.The country's gas rig count decreased by one to 100 in the reported week, slipping by 16 from the same period in 2024. The total number of rigs in the US stood at 592, unchanged from the previous week and down by 37 from the same period...

US consumer confidence drops in March

20 hours ago

Consumer sentiment in the United States declined further in March, according to a report by the University of Michigan published on Friday. The related index plunged to 57.9 from 64.7 in February, falling short of forecasts. "While current economic conditions were little changed, expectations for the future deteriorated across multiple facets of the economy, including personal finances, labor markets, inflation, business conditions, and stock markets," the...

Italy's industrial output rises by 3.2% in January

14 March

Industrial production in Italy grew by 3.2% in January compared to the previous month, the country's statistics office Istat said in a report on Friday. Year-on-year, the industrial output fell by 0.6%.Compared to December, January saw an increase in the production of capital goods of 4.1%, followed by intermediate goods at 4% and consumer goods at 2.6%, while energy output fell by 3.4%. On a yearly basis, only the production of consumer goods...

Spain confirms inflation up from 2.9% to 3% in February

14 March

Annual inflation in Spain clocked in at 3% in February, matching the preliminary reading, the country's National Statistics Institute (INE) revealed in its final report on Friday.In addition, month on month, consumer prices rose 0.4% in February. Core consumer prices increased at an annual rate of 2.2% while registering a monthly growth of 0.3% in the reported period.The harmonized index of consumer prices (HICP) saw a monthly rise of 0.4% and a yearly jump...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.