Spanish services activity continued to rise markedly during April, despite the rate of growth easing to the slowest in 2018 so far. The latest expansion was supported by a further strong rise in new business, but there were some signs of companies offering discounts in order to secure new work.

The headline seasonally adjusted Business Activity Index dropped to 55.6 in April from 56.2 in March, with growth slowing for the second month running from February's seven-month high. That said, activity continued to rise markedly over the month amid reports of improving customer demand. Business activity has increased on a monthly basis throughout the past four-and-a-half years.