The biggest part of Spain's economy just grew for the 19th month in a row

Barcelona players celebrate after winning the Spanish first division title following their soccer match against Atletico Madrid at at Vicente Calderon stadium in Madrid, Spain, May 17, 2015. REUTER/Juan MedinaBarcelona celebrate winning the Spanish league earlier this month.

Eurozone purchasing managers index (PMI) figures are rolling out today, giving us an idea of how the service sector did in May.

The PMIs are widely watched business surveys that attempt to signal the way a sector is going before it is recorded by official data.

Anything above 50 signals growth, the higher the better.

So far only Spain has reported figures, with a reading of 58.5. That’s down from 60.3 in April, an eight year high, and below analyst expectations of 59.3.

But, the figure still marks the 19th straight month of growth for Spain’s service economy, which includes everything from banking to social work and accounts for around half of Spain’s economy.

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