Spain February services PMI 56.7 vs 54.3 expected

• Prior 52.7

That is a considerable strengthening in growth momentum for Spain's services sector in February, as there are marked increases in activity and new business with stronger employment growth also noted. This matches up with the strong preliminary readings from France and Germany's services sector that we saw previously. S&P Global notes that:

“The picture painted for Spain’s service sector improved markedly in February, according to latest PMI data. Expansions in activity and new business were sharp and the fastest in ten and 15 months, respectively, while employment growth was sustained for a fifth consecutive month. The central factor supporting the aforementioned survey developments was reportedly a sustained strengthening in demand conditions. However, it is difficult not to be wary about the longevity of the current sector trajectory as inflationary pressures remained elevated. Rates of input price and output charge inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term were again historically sharp in February and, although weaker than the survey highs recorded in March of last year, have shown only limited signs of easing. That said, firms maintained a strongly optimistic outlook for output over the coming 12 months, with the degree of confidence the joint-strongest in a year.”