The sales of the industry fall and those of services stop dead when stopping the GDP
The Spanish economy stopped dead in the third quarter of the year, with an advance of barely 0.2%, compared to the 1.5% registered between April and June, according to the advance of the National Accounts data recently published the National Statistics Institute. The INE has confirmed this morning two more data that give an idea of what that break was like: sales of services closed September with an advance of 0.9%, much lower than the 2.1% that they had registered the previous month, in the middle of the high season of tourism. Meanwhile, industry billing fell by 3.5% that same month, in September, after having recovered in August.
If seasonal and calendar effects are eliminated, turnover from commerce increased by 1%, while that from other services did so by 0.8%. Specifically and by sector, sale and repair of vehicles and motorcycles registered the greatest dynamism (2.4%), followed by professional, scientific and technical activities (2%) and administrative activities and auxiliary services (2%) presented the greatest increases. On the opposite side, hospitality (−3.4%) and transport and storage (−1.7%) recorded the largest decreases.
If the data are compared with those of the same month of the previous year, the General Turnover Index of the Market Services Sector -corrected for seasonal and calendar effects- advances 20.2% in September compared to the same month of 2021 This rate is 2.5 points lower than that registered in August. The original series presents an annual variation of 20.1%, which is 3.2 points below that registered in August.
All the autonomous communities increased their service turnover in September compared to the same month in 2021, with the Balearic Islands (40.7%), Galicia (29.6%) and Navarra (24.9%) registering the highest increases. ) ; and those that decreased the most were La Rioja (10.8%), Castilla – La Mancha (11.2%) and Extremadura (11.2%). Regarding employment, it also slowed down. It advanced 3.3% year-on-year, at a good pace, although four tenths less than in August. Occupation rose 1.9% in commerce and 4.2% in other services.
Industry sales fall in relation to the previous month
While and with regard to the industry, in monthly terms (September over August) and in data corrected for seasonality and calendar, this cut its sales by 3.5%, in contrast to the monthly increase of 4.1% it experienced in August. It is true that compared to the same month of the previous year, sales in the secondary sector are still going strong.
They advance by 21.3% year-on-year thanks to the boost in sales from the energy sector, which increased by 61.1%. The data published this Tuesday by the National Statistics Institute (INE) confirm that with this year-over-year risealmost seven points higher than that registered in August, the industry turnover adds 19 consecutive months of promotions after having previously chained a year of negative year-on-year rates due to the Covid crisis.
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