The S&P Global Spain Services PMI accelerated to 54.2 in June 2026, well above expectations of 50.9 and rebounding from May's 50.1 to post its strongest growth rate of the year.
This expansion was driven by a robust influx of domestic new orders, which outstripped corporate capacities and caused a marked accumulation of backlogs.
Though export demand remained flat, it marked the first time in 2026 that international sales avoided a decline.
Buoyed by potential resolutions to the Middle East conflict, business sentiment surged to a four-month high, prompting firms to expand recruitment at the fastest pace in three months to extend a 45 month streak of job creation.
Rising headcounts elevated wage bills, which alongside high fuel costs, kept operational expenses substantial.
However, input price inflation slowed to a four-month low, allowing service providers to moderate their own rate hikes and cool output price inflation to its lowest level since January.