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In Foreign Affairs

Spanish service industry decimated by COVID

6th May 2020 David Stevenson

Spanish service industry decimated by COVID Pin It

The services sector in Spain, including catering, retail, aviation and tourism, came to a standstill in April due to measures to combat the corona virus. The country was almost completely locked. Before the COVID-19 outbreak Spain was number one British holiday destination.

According to British market researcher Markit, the purchasing managers index, which measures activity in the Spanish services sector, plummeted to 7.1. In March that indicator was still at 23, which also meant a significant contraction. A position of 50 or more indicates growth, below that shrinkage.

Spain has been quarantined for weeks due to the pandemic and is now slowly easing strict restrictive measures. The industry in Spain is also hit hard by the crisis because many factories are closed.

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