Spanish companies’ sales down by 10% in March making it 12 consecutive months of falls

spain foreign policy

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.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.