Spain’s services sector maintained solid expansion in October 2026, though momentum eased slightly, according to the latest HCOB Spain Services Purchasing Managers’ Index (PMI) data updated on 4 November 2026.
The index slipped to 57.2 in October from 58.3 in September 2026, remaining comfortably above the 50-point threshold that separates expansion from contraction. The moderation suggests that while activity in Spain’s services economy is still growing at a healthy pace, the rate of growth has cooled compared with the previous month.
The October reading indicates that underlying demand in the sector remains resilient, but may be normalizing after a stronger surge in September. Investors and policymakers are likely to watch upcoming PMI releases closely for signs of whether this slowdown is temporary or the start of a more sustained easing in services-sector momentum.
