The Spanish service sector registered a noticeable slowdown in growth of activity during April amid reports that political uncertainty had led to some projects being put on hold. New business growth also softened, whilst confidence about the future slumped to its lowest level since mid-2013. Nonetheless, companies took on additional staff at a faster rate, albeit at the price of raising average salary costs which in turn led to another noticeable increase in operating expenses. After accounting for seasonal factors, April's headline Business Activity Index registered a level of 53.1. Although indicative of solid ... (full story)