-
Spanish activity falls to greatest degree since May
The downturn of the Spanish service sector continued to gather pace during October, with both activity and new business declining at their fastest rates since May. Increased global coronavirus disease 2019 (COVID-19) infections and general worries amongst clients all served to weigh on activity. With workloads falling, staffing levels continued to be cut, whilst margins remained under pressure as output charges declined markedly. The headline Business Activity Index, which is based on a single question asking firms to comment on developments in their activity since the previous month, posted a level of 41.4 during ... (full story)