Services PMI 54.2 vs 50.9 expectedPrior 50.1Composite PMI 53.3Prior 50.2That's a strong upside surprise for Spain's services sector in June, with marked increases in both activity and new business. Improved market demand was the main tailwind, albeit largely amongst domestic-based clients. New export business was little changed in June.Besides that, pricing pressures also did ease so that will be of much comfort for the ECB in reading into the inflation outlook ahead of the summer.S&P Global notes that:"Stronger confidence in the outlook supported a generalimprovement in market activity and demand during June.Latest data showed that service providers themselveswere much more optimistic, with sentiment strengtheningto a four-month high.Additional hiring coincided with an uplift in typical salarycosts, which remained a notable driver of overall increases inoperating expenses during the month. Companies added thathigh energy and fuel prices remained a source of inflation,whilst there was evidence of vendors generally raising theirprices as they sought to pass on higher raw material costs.Although remaining extremely high, input price inflation fellsince May, hitting a four-month low. This helped to explaina similar slowdown in the degree to which firms passedon higher operating costs to clients. Overall, output priceinflation slipped in June to its lowest level since January." This article was written by Justin Low at investinglive.com.