The industry cuts its sales by 5.7% in September and services fall by 0.9%

The industry cuts its sales by 5.7% in September and services fall by 0.9%

The turnover of the industry in Spain fell 5.7% in September compared to the same month in 2022, five tenths less than in August, meaning adds six uninterrupted months in negative annual rateswhile sales in the services sector fell 0.9%, according to data published this Tuesday by the National Institute of Statistics (INE).

Adjusted for seasonal and calendar effects, the decrease in September is 2.3%, less than the 6.2% recorded in the previous month. By economic destination of the goods, three of the five sectors analyzed present negative annual rates. Among them, the decrease in Energy stands out (9.5%).

By geographic destination of sales, All markets present year-on-year cuts, and the 6.1% in the euro zone stands out from the foreign market. The industrial turnover increases compared to September 2022 in five autonomous communities and decreases in the other 12. The largest increases occur in the Community of Madrid (4.7%), Foral Community of Navarra (4.2%) and País Basque (4%). And the greatest decreases in Galicia (18.3%), Aragón (17.3%) and Cantabria (14.9%).

According to the INE, The monthly variation between the months of September and August, eliminating seasonal and calendar effects, is 1.2%. This rate is four tenths higher than that of the previous month. By economic destination of the goods, four of the five sectors present positive monthly rates. Among them, the increase in Energy stands out (5.3%).

Besides, The services sector reduced its turnover by 0.9% in September compared to the same month of 2022expanding by four tenths the year-on-year drop experienced in August (0.5%). The decline registered in September, the second in a row, was a consequence of the drop in trade turnover by 2.6%, motivated in turn by the decline in sales in wholesale trade (8.9%).

On the contrary, the sale and repair of vehicles and motorcycles invoiced 10.3% more compared to September 2022, and retail trade, 8.8% more. As for other services, they increased their sales by 2.6% year-on-year in September, driven by hospitality (10.2%), information and communications (6.6%), administrative activities (4.8%) and activities professionals (3.1%). However, Transportation and storage sales fell 5.4%. Within the hospitality industry, accommodation services increased their sales by 13.7%, while food and beverage services invoiced 8.2% more than in September 2022.

In monthly terms (September over August) and in data corrected for seasonality and calendar, In the ninth month of the year, the services sector recorded a monthly increase in sales of 0.7%, five tenths above the monthly rebound achieved in August.. For the thirtieth consecutive month, employment in the services sector grew last September, and it did so at an interannual rate of 1.9%, a rate one tenth higher than that of August. The Balearic Islands was the community that increased job creation in the services sector the most last September, with a year-on-year increase of 6.5%, and also the one that increased sales the most, 12.5% ​​year-on-year.

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