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Spain: Modest service sector growth sustained in November
Spain’s services economy continued to expand during November, although growth was modest and supported in part by a reduction in backlogs of work as incoming new work declined slightly. Extra capacity also helped firms to keep on top of workloads, with employment growth sustained for a fourteenth successive month as positive projections for activity were signalled. Increased employment came however at the cost of an uplift in wages, and another month of noticeably higher operating expenses. Output charges were raised markedly in response. The headline HCOB Spain Services PMI® Business Activity Index recorded a ... (full story)