The Spanish service sector continued to grow solidly in November, although there were further slowdowns in rates of expansion for business activity and new orders. There were some reports that political uncertainty in Catalonia acted to dampen demand. On a more positive note, the rate of job creation quickened for the second month running. Meanwhile, the rate of input cost inflation reached the highest since March 2011 and output prices rose at a faster pace.

The headline seasonally adjusted Business Activity Index posted 54.4 in November, down from 54.6 in October and signalling the weakest rise in business activity since January