Prior 51.5Spain's services sector activity improved amid better demand conditions to start the new year. Adding to the positive developments is a pick up in jobs growth to its best level since May last year. However, price pressures remain a problem and that will make it tough for the ECB to try and justify sooner rather than later rate cuts. HCOB notes that:"Spain once again underscores its current strength among the major European economies. The Services PMI sparks optimism, suggesting that the momentum from a robust 0.6% GDP expansion in the fourth quarter could carry forward into the first quarter of the new year. The PMI signals faster growth in January than the previous month, reaching
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