Although the Spanish service sector remained in contraction at the start of 2013, both activity and new business declined at slower rates during the month and confidence among firms with regards to the 12-month outlook improved. That said, employment continued to fall during January, and at an accelerated pace. The headline seasonally adjusted Business Activity Index – which is based on a single question asking respondents to report on the actual change in business activity at their companies compared to one month ago – rose to 47.0 in January, from 44.3 in the previous month. The latest reading signalled a further ... (full story)