-- Spain's private sector activity contracted in April for the first time in nearly 2.5 years, dragged by the services economy while manufacturing output expanded at a solid rate, S&P Global said Wednesday.
The S&P Global Spain Composite PMI fell to 48.7 from 52.4 in March, below the neutral 50-point mark.
For the service sector, the PMI came in at 47.9, against the previous 53.3 and the consensus estimate of 52. The reading marked the first contraction since August 2023 and was the lowest since the start of 2022, as the war in the Middle East impacted demand and new business.