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The billing of the services sector accelerates in February and rises 5.4%, its largest increase in a year

MADRID, 18 Abr.

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The billing of the services sector accelerates in February and rises 5.4%, its largest increase in a year

MADRID, 18 Abr. (EUROPA PRESS) -

The services sector recorded an increase in its turnover of 5.4% in February compared to the same month of the previous year, a rate 2.5 points higher than the previous month and its largest increase since March 2023, according to data released this Thursday by the National Institute of Statistics (INE).

With the rebound in February, the sector's sales chain two months of positive interannual rates after the 2.9% increase they experienced in the month of January.

Commerce increased its sales by 3.9% in February, while other services invoiced 8.2% more than in the same month of 2023.

Within commerce, the sale and repair of vehicles and motorcycles was the one that increased its turnover the most in the second month of the year, with a year-on-year increase of 12%, followed by retail trade (8%) and wholesale trade (0.7 %).

For its part, with regard to other services, the largest annual increases in turnover occurred in the hospitality industry (11.8%); professional, scientific and technical activities (9.8%), and administrative activities and auxiliary services (9.2%).

They were followed by information and communications (6.9%); transportation and storage (6%) and real estate activities (5.4%).

Within the hospitality industry, accommodation services increased their turnover by 17.2% year-on-year in February, while food and beverage services increased their turnover by 9.8%.

Corrected for seasonal and calendar effects, service billing rose 4.7% in February in an interannual rate, 3.5 points above the growth recorded the previous month.

In monthly rate (February over January), sales in the sector, eliminating the seasonal and calendar effect, increased by 2.1%, their largest monthly increase since April 2022, when they rose by 7.7%. With the increase in February, sales have now accumulated six consecutive months of increases.

EMPLOYMENT MODERATES ITS RATE OF INCREASE TO 2%

Employment created by the services sector rose 2% in February compared to the same month in 2023, a rate one tenth lower than that of the previous month. However, employment in the sector has been growing uninterruptedly since April 2021.

Employment grew by 2% in commerce and 2.1% in other services in February. Within the latter, the greatest increase in employment was recorded in information and communications (3.1%), followed by transportation and storage (2.3%); administrative activities and professional activities (1.8%) and hospitality (1.6%). Real estate activities, on the other hand, reduced their occupancy by 0.6%.

For its part, within commerce, the retailer increased its workforce by 2.1% year-on-year in February, while the wholesaler increased its workforce by 1.7% and the sale and repair of vehicles by 2.3%.

LA RIOJA LEADS THE GROWTH IN SALES AND THE BALEARIC ISLANDS, IN EMPLOYMENT

All autonomous communities increased the number of businesses in the services sector in February in relation to the same month of 2023, highlighting the representatives registered by La Rioja (17.4%), Navarra (11.8%) and Baleares (11.3% ).

Regarding employment, employed personnel also increased in February in all regions. The greatest advances in employment in the services sector were recorded by the Balearic Islands (4.4%), Murcia (3.1%) and the Canary Islands, with employment growth of 2.9% compared to February 2023.

Keywords:
INE