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Spain: Sustained slowdown in service sector growth
The Spanish services economy remained in expansion territory during July, but further growth momentum was lost amid signs of cooling market demand. Activity and new business both increased, but at the softest rates in six and seven months, respectively. Employment levels likewise rose at a weaker pace and the level of unfinished business stabilised. Meanwhile, despite frequent mentions of persistent wage pressures, the latest rise in input costs was the least pronounced since April 2021 and the rate of output charge inflation eased to a 22-month low. The headline HCOB Spain Services PMI Business Activity Index® ... (full story)