February 2024.
Business activity in Spain fell 1.9% in February, according to the INE
The General Business Turnover Index (ICNE), corrected for seasonal and calendar effects, experienced a drop of 1.9% in February 2024 compared to the same month of the previous year, according to data published today by the National Institute of Statistics (INE).
However, it is worth noting that the original ICNE series registered an increase of 0.9% in annual terms.
Regarding the monthly evolution, the ICNE corrected for seasonality and calendar experienced a slight increase of 0.2% between January and February 2024. However, this rate was four tenths lower than that registered in the previous month.
Breakdown by sectors:
- Trade: The sector that experienced the highest monthly growth was Commerce, with an increase of 2.3%.
- Rest of sectors: The other sectors analyzed by the INE also registered positive variations in monthly terms, except for Supply of electricity, water, sanitation and waste management, which experienced a decrease of 3.0%.
In summary, business activity in Spain showed a slight contraction in February 2024 compared to the same month of the previous year. However, it is important to note that the original ICNE series recorded positive annual growth.
For more information, consult the INE:
