May 6, market research firm Markit announced in a survey on Tuesday (May 6) that due to the good health of Spanish corporate employees, Spain's April services PMI rose to 56.5, hitting a seven-year (March 2007) high.
Specific data shows that Spain's April services Purchasing Managers' Index (PMI) rose to 56.5, the highest level since July 2007, with a previous reading of 54.0.
Spain's April services employment sub-index was 52.0, the highest since December 2007, with a previous reading of 49.3.
Spain's services PMI has been above the 50 watershed for six consecutive months.
Markit economist Harker stated that although there is still a long way to go, the broad economic sentiment in Spain has improved, and this momentum is likely to continue.
Private services account for about half of Spain's total economic output. Since the 2008 financial crisis, private services have been hit hard due to weak domestic demand.
