HCOB Services PMI

The Purchasing Managers Index (PMI) Services released by S&P Global and Hamburg Commercial Bank (HCOB) captures business conditions in the services sector. As the services sector dominates a large part of total GDP, this PMI is an important indicator of business conditions and the overall economic condition in Spain. A result above 50 signals bullish sentiment for the Euro, whereas a result below 50 is seen as bearish.