Spain’s service sector grew at a slightly slower pace in November, survey results from IHS Markit showed Tuesday.
The services Purchasing Managers’ Index came in at 54.4 in November versus 54.6 in October. The reading was expected to rise to 55.5.
The score signaled the weakest rise in activity since January. That said, output has now increased on a monthly basis in each of the past 49 months.
There were slowdowns in rates of expansion for business activity and new orders. On a more positive note, the rate of job creation quickened for the second month running.
Meanwhile, the rate of input cost inflation reached the highest since March 2011 and output prices rose at a faster pace.
As was the case in October, companies mainly attributed slower growth to the political situation in Catalonia which has acted to dampen demand, Andrew Harker, an associate director at IHS Markit, said.
The material has been provided by InstaForex Company – www.instaforex.com
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