A business survey released Wednesday showed Spain's services sector continued to
expand strongly in October but at a slower pace as new business growth cooled
and export sales fell. S&P Global Market Intelligence's Spain services PMI
business activity index eased to 57.2 in October from 58.3 in September,
remaining above trend. Paul Smith, economics director at S&P Global Market
Intelligence, said activity is expanding above average, suggesting Spain has
started Q4 well. Business confidence rose to its highest since February,
supported by previously planned investment and hopes that the Nov. 29 election
will bring positive change.
