2023-07-20 13:35:17
The turnover of companies fell by 2.5% last May compared to the same month in 2022, thus adding two months of declines, after breaking in April with 25 consecutive months of year-on-year increases, which was the time of recovery after the coronavirus pandemic. according to the Business Turnover Index (ICNE) published this Thursday by the National Institute of Statistics (INE).
All sectors presented negative interannual rates in May, except for services, which increased its sales by 6.2% in the interannual rate. The most pronounced fall was experienced by the supply of electricity and water, which cut its sales by 27.1%. This decrease is impacted by the energy crisis experienced after the invasion of Ukraine, since in May of last year energy prices were skyrocketing, which resulted in an increase in billing. For its part, industry contracted its turnover by 2.8% compared to May 2022 and commerce sold 1.2% less compared to the same month last year.
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Corrected for seasonal and calendar effects, company turnover fell by 2.7% year-on-year last May, which is two tenths lower than that of April. In this case, the largest drop also occurred in the supply of electricity and water (-25.3%), followed by industry (-3.6%) and commerce (-1.3%). In turn, services increased their billing by 5.5%.
In monthly values and within the corrected series, business turnover increased by 0.3% in May and breaks with two consecutive months of declines after those registered in March and April (-0.2% and -2.5%, respectively).
The Business Turnover Index (ICNE) is a synthesis operation that makes it possible to obtain a short-term indicator that measures the short-term evolution of turnover, jointly, for the non-financial economic sectors: Extractive and manufacturing industries, Electricity and water, Commerce and Non-financial services.
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