Highlights from the press release:
- "The continued expansion of Spain’s service sector was
signalled by July’s survey as firms recorded another solid
increase in activity and a modest rise in new business.
Additional staff were again taken on, which enabled
companies to broadly keep on top of overall workloads."
- "Whilst firms indicated that underlying sales remained
positive, a slump in new business from abroad – there was
some indication that tourism numbers remain lower-than-usual – and growing client hesitancy in committing to new
work weighed on growth."
- "Firms signalled that upward price pressures, and a generally
unstable global economic and political environment was
weighing on the outlook. Fears of recession in the second
half-of-the year were increasingly common. The net result
was a slump in confidence to its lowest since August 2020. "