The turnover of Spanish companies suffered a 10.6% drop in March compared to the same month in 2023, its biggest fall since February 2021, according to data provided today by the National Statistics Institute (INE).
Although it should be borne in mind that last year Easter fell in March and in 2024 the positive effect of these dates corresponded to April, the truth is that if seasonal and calendar effects are corrected, turnover also fell, in this case by 6.5%.
In this way, company turnover has now fallen for twelve consecutive months, which seems to contradict the scenario of growth that the President of the Government, Pedro Sánchez, is describing.
Between the months of March and February 2024, eliminating seasonal and calendar effects, turnover fell by 2.5%, according to the INE. The fall is, moreover, generalised across all sectors.
