Once again, Spain continues to be the bright spot in the euro area. This marks the steepest rise in activity for over a year. HCOB notes that:
“In May, Spain’s services sector continued to expand. Activity and new business both saw substantial growth, with the
Services PMI Business Activity Index rising to 56.9. This growth was driven by a strong increase in new business, which has
now risen for six consecutive months. Panellists reported – as also seen in the manufacturing sector – higher overall
demand and greater success in acquiring new customers. Particularly encouraging was the significant rise in export
business, especially in…
