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Spanish Services Sector Shows Resilience in July 2025, According to HCOB Spain Services PMI®
The Spanish services sector demonstrated a robust performance in July 2025, as indicated by the latest HCOB Spain Services PMI® report published by S&P Global. The data, released on August 5th, 2025, reveals a continued expansion in business activity, signaling a positive trajectory for this vital segment of the Spanish economy.
The Purchasing Managers’ Index (PMI) for the services sector, a key indicator of economic health, registered a strong reading, reflecting sustained growth. This positive momentum is underpinned by several encouraging trends observed by businesses surveyed in the report.
Key highlights from the July 2025 HCOB Spain Services PMI® include:
- Sustained Business Activity Growth: The report indicates a healthy increase in the volume of business activity across the Spanish services sector. This suggests that demand for services remains strong, supporting ongoing operational expansion for many companies.
- New Orders on the Rise: A significant factor contributing to the sector’s positive performance is the continued inflow of new business. Anecdotal evidence from surveyed firms points to a supportive demand environment, likely benefiting from both domestic and potentially international client engagement.
- Employment Expansion: The positive outlook for business activity has translated into job creation within the sector. Companies have increased their staffing levels in response to growing workloads and expectations of future growth.
- Input Cost Pressures Moderate: While businesses are still experiencing rising input costs, the rate of increase appears to have stabilized or moderated compared to previous periods. This offers some relief to profit margins and contributes to a more predictable operating environment.
- Output Price Inflation Remains Controlled: Correspondingly, the prices charged by service providers have also seen an increase, but at a slower pace. This suggests that companies are carefully balancing the need to pass on costs with maintaining competitiveness in the market.
- Optimism for the Future: Business confidence in the future outlook for the Spanish services sector remains positive. Firms anticipate further growth in business activity in the coming months, supported by expectations of sustained demand and investment.
The HCOB Spain Services PMI® report serves as a valuable barometer of the sector’s health. The July 2025 data points towards a resilient and expanding services economy, capable of navigating the current economic landscape. The sustained growth in new orders and employment, coupled with controlled price pressures, paints a picture of a sector that is well-positioned for continued development.
Businesses in the services sector can take confidence from these findings as they plan for the remainder of 2025. The positive indicators suggest a supportive environment for strategic planning, investment, and further job creation within this important pillar of the Spanish economy.
HCOB Spain Services PMI. July 2025
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