Company sales deepen their fall in August to 6.7%, their largest decline in two and a half years

MADRID, Oct. 20 (EUROPA PRESS) - The turnover of companies fell by 6.7% last August compared to the same month in 2022, expanding by almost three points the interannual decline experienced the previous month, according to the Business Turnover Index (ICNE) published this Friday by the National Institute of Statistics (INE).

With the decline in August, the most pronounced since February 2021, company sales have chained five consecutive months of year-on-year declines after having been positive for 25 consecutive months.

All sectors presented negative interannual rates in August, except for services, which increased their sales by 2.9% compared to the same month in 2022.

Among the declines, the supply of electricity and water stands out, which reduced its sales by 38.2%. They were followed by industry, which reduced its turnover by 6.2% compared to the same month in 2022, and commerce, which sold 2.2% less than in August of last year.

Corrected for seasonal and calendar effects, company turnover also decreased by 6.7% year-on-year last August, a rate 3.1 points lower than that of July.

The largest year-on-year decrease in the corrected series was also for the supply of electricity and water (-38.6%), followed by industry (-6.3%) and commerce (-2.1%). On the other hand, services increased their year-on-year turnover by 3.3%.

SALES STAGN COMPARED TO JULY

In monthly values ​​and within the corrected series, business turnover stagnated, compared to the increase of 1.1% registered the previous month and the monthly rebound of 3.3% experienced in the same month of 2022.

Two of the sectors increased their sales in the eighth month of the year in relation to the previous month: industry and commerce, with increases of 0.7% and 0.1%, respectively. On the other hand, services did not experience any variation, while the supply of electricity and water reduced its monthly billing by 1%.