Aug composite PMI output 53.5 vs 53.4 in July (Il Sole 24 Ore Radiocor) - London, 04 Sep - In August, Spain's purchasing managers' index for the services sector rose to 54.6 from 53.9 in July, a twelfth successive month in which the index has posted above the 50.0 no-change mark, according to data released by S&P Global and the Hamburg Commercial Bank.

The composite PMI, a weighted average of services PMI and manufacturing output, grew to 53.5 from 53.4.

"While the Spanish are enjoying their summer holidays, there is little movement in the HCOB Purchasing Managers' Indices as well. The HCOB Composite PMI continues to signal solid growth and remains nearly unchanged compared to July. As in the preceding months, growth is primarily driven by the strong services sector, while momentum in the manufacturing sector is softening. After an impressive first half of the year with strong economic growth, our HCOB Nowcast model forecasts continued robust but slightly weaker growth of 0.3 % for the third quarter," said Jonas Feldhusen, junior economist at Hamburg Commercial Bank.

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(RADIOCOR) 04-09-24 09:30:59 (0187) 5 NNNN