Spanish services activity continued to grow at a solid pace during September, supported by a faster increase in new business. Companies also remained optimistic of further rises in activity over the coming year. That said, the rate of job creation eased for the third consecutive month. Meanwhile, rates of inflation of both input costs and output prices eased from those seen in August.

The headline seasonally adjusted Business Activity Index posted 54.7 in September, down slightly from 56.0 in August but continuing to signal solid monthly growth of services activity. Output has now increased in each of the past 35 months, with the latest rise mainly linked to higher new orders.