The activity of the Spanish service sector accelerated in December, according to PMI

MADRID, 4 Ene.

The activity of the Spanish service sector accelerated in December, according to PMI

MADRID, 4 Ene. (EUROPA PRESS) -

The growth of the activity of the Spanish services sector accelerated last December despite inflation, which allowed companies to continue creating employment in the sector, according to the purchasing managers index (PMI), prepared by S

In December, Spain's services sector PMI rose to 51.6 points from 51.2 the previous month, representing its best reading since last July.

In this way, after the manufacturing PMI stood at 46.4 points in December, compared to 45.7 the previous month, the composite PMI for the Spanish private sector registered an improvement of three tenths to close 2022 at 49, 9 points, on the brink of breakeven.

"The Spanish services sector more than coped with the situation at the end of the year, registering increases in activity and new orders for the second consecutive month," said Paul Smith, economist at S

However, the expert warned of the sector's concerns regarding persistently high inflationary pressures and their impact on activity and consumption.

"Inflation remains a daunting concern for many companies into early 2023 and as a result confidence in the outlook has remained historically subdued," it added.

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