Company sales fall further to 8.3% in September, largest decline since 2021


The turnover of companies fell by 8.3% last September compared to the same month in 2022, extending by 1.4 points the year-on-year decline experienced the previous month, according to the Business Turnover Index (ICNE) published this Thursday by the National Statistics Institute (INE).

With September’s decline, the steepest since February 2021, business sales have now posted six consecutive months of year-on-year declines after 25 consecutive months in positive territory.

All sectors presented negative year-on-year rates in September, except services, which increased their sales by 2.6& with respect to the same month in 2022.

Among the declines, the supply of electricity and water stands out, which cut its sales by 49.5%. They were followed by industry, which reduced its turnover by 5.7% compared to the same month in 2022, and commerce, which sold 2.6% less than in September last year.

Adjusted for seasonal and calendar effects, company turnover fell by 6.2% year-on-year last September, a rate six tenths of a percentage point higher than in August.

In monthly values and within the corrected series, business turnover rose by 0.9% with respect to August, compared with the 0.1% decline recorded the previous month and the 0.2% rise experienced in the same month of 2022, reports the Europa Press news agency.

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