Spain services PMI hits 40-month high in July on demand surge

New orders accelerated to their fastest pace since early 2025, signaling robust domestic momentum for the eurozone's fourth-largest economy.

By Handelsavisen Newsroom · Automated 5 August 2026, 11:50 UTC · 1 min read

Spain's services sector expanded at its strongest rate in more than three years during July, driven by a sharp acceleration in new business.

The Purchasing Managers' Index (PMI) reached a 40-month high, with new orders growing at their fastest clip since January 2025.

Companies cited rising demand as the primary catalyst for the upturn, suggesting underlying economic resilience despite broader regional headwinds.

The data points to a divergence in growth dynamics within the eurozone.

While the broader Eurozone services PMI returned to expansion territory in July, rising to 51.7 from 49.4 in June, Spain's performance appears to be outpacing the regional average.

This strength in the services sector, which constitutes a significant portion of Spain's GDP, could provide a buffer against softer industrial activity elsewhere in the bloc.