Press Release: Business Turnover Index (BTI). May 2024. Provisional data.

Main results

The annual rate of the Business Turnover stands at 1.3% in the seasonal and calendar adjusted series and 1.2% in the original.
The monthly variation of the Business Turnover stands at -1.8%, after seasonal and calendar adjustment.

More information

Annex of tables (includes information on original and sector-adjusted series)
Detailed results (monthly and annual)

The Total Business Turnover Index, once adjusted for seasonal and calendar effects, showed a variation of 1.3% in May, as compared with the same month of the previous year. The BTI original series registered an annual variation of 1.2%.

Business Turnover Index

Annual rates. Percentage

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        "Jun-23",
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        "Nov-23",
        "Dec-23",
        "Jan-24",
        "Feb-24",
        "Mar-24",
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            33.8,
            28,
            20.1,
            24.8,
            23.4,
            15.8,
            12.1,
            10,
            9.5,
            4.6,
            6.5,
            -5.7,
            -3.2,
            -5.4,
            -4.3,
            -7.5,
            -9.3,
            -3.7,
            -3.4,
            -6.7,
            -0.7,
            0.8,
            -10.7,
            7.8,
            1.2
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            31.1,
            28.3,
            23.5,
            21.7,
            22.6,
            15.9,
            12.4,
            11.7,
            7.1,
            4.5,
            6.5,
            -2.9,
            -5.4,
            -5.7,
            -4.1,
            -7.3,
            -7.6,
            -5.7,
            -3.3,
            -4.2,
            -3.2,
            -2.2,
            -6.5,
            2.4,
            1.3
        ]
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The seasonally and calendar adjusted indices showed positive annual rates in two of the analysed sectors and negative in the other two. Non-financial market services recorded the largest increase (6.5%), while the largest decrease was in Electricity and water supply, sanitation and waste management (-12.1%).

Business Turnover Index, Total and by sectors. May 2024

Annual rates

Monthly trend of BTI

The monthly variation of the seasonally and calendar adjusted Business Turnover Index between the months of May and April of 2024 stood at -1.8%. This rate was 6.3 points lower than the previous month.

Business Turnover Index, Total. Seasonally and calendar adjusted

Monthly rate. Percentage

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        "May-22",
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        "Aug-22",
        "Sep-22",
        "Oct-22",
        "Nov-22",
        "Dec-22",
        "Jan-23",
        "Feb-23",
        "Mar-23",
        "Apr-23",
        "May-23",
        "Jun-23",
        "Jul-23",
        "Aug-23",
        "Sep-23",
        "Oct-23",
        "Nov-23",
        "Dec-23",
        "Jan-24",
        "Feb-24",
        "Mar-24",
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            1.9,
            -0.1,
            -1.4,
            3,
            0.9,
            -2,
            -0.9,
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            -0.5,
            -0.9,
            1.9,
            -4.6,
            -0.7,
            -0.4,
            0.3,
            -0.4,
            0.6,
            0,
            1.6,
            -0.8,
            0.5,
            0,
            -2.6,
            4.5,
            -1.8
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Of the four analyzed sectors, Electricity and water supply, sewerage and waste management showed the only increase (11.1%). On the other hand Extractive and manufacturing industries showed the highest decrease (-0.8%).

Revisions and data update

The INE has today updated the ICNE data for the last 13 months. In the case of the series adjusted, the series have been reviewed from the beginning, following the INE standard. All the results of this operation are available at INEbase.

Methodological note

The Business Turnover Index (BTI) is a short-term synthesis statistical operation aiming at obtaining an indicator to measure the short-term evolution of turnover, as a whole, for non-financial economic sectors: Extractive and manufacturing industries, Electrical energy and water, Trade and Non-financial services.

Survey Type:: continuous monthly survey.
Base year:: 2021.
Population scope:: turnover of the economic sectors Extractive and manufacturing industries, Electricity and water supply, sanitation and waste management, Commerce and non-financial market services.
Geographical scope:: the whole national territory.
Results reference period:: the calendar month.
Information sources:: it is compiled using information from three statistical operations carried out by INE: Industry turnover indices (ITI), service sector activity indicators (SSAI) and retail trade indices (RTI). In addition, existing information from administrative registers is utilized: sales declared by large companies in their VAT returns in the sector not covered by the surveys previously mentioned.

Further information is available in the methodology and the standardized methodological report.

INE's statistics are produced according to the European Statistics Code of Practice. For further information at Quality at INE and Code of Practice.