Spain’s Market Services Sector turnover rose 0.2% MoM in July 2025 and 3.2% YoY (seasonally & calendar adjusted), reflecting steady growth but at a slower annual pace than June.

• The original series also showed a 3.2% YoY increase, down nearly 2 ppts from June, signaling some loss of momentum.

• Trade turnover rose 5.6% YoY, continuing to be the strongest driver of services activity.

• Other Services increased 2.1% YoY, showing more modest but still positive growth.

• The annual adjusted growth rate of 3.2% was 0.8 ppts lower than in June, indicating slight softening in service sector momentum.

• On a monthly basis, the +0.2% adjusted increase matched June’s pace, pointing to stable short-term growth.