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

Main results

The annual rate of the Business Turnover stands at -6.5% in the seasonal and calendar adjusted series and -10.6% in the original.
The monthly variation of the Business Turnover stands at -2.5%, after seasonal and calendar adjustment.

More information

Tables annex (includes information on original and sector-adjusted series)
Detailed results (monthly and annual data)

The Total Business Turnover Index, once adjusted for seasonal and calendar effects, showed a variation of -6.5% in March, as compared with the same month of the previous year. For other hand, the BTI original series registered an annual variation of -10.6%.

Business Turnover Index

Annual rates. Percentage

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            24,
            31.2,
            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,
            0.9,
            -10.6
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            24.3,
            33.7,
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            28.3,
            23.5,
            21.7,
            22.6,
            15.9,
            12.4,
            11.7,
            7.1,
            4.5,
            6.4,
            -2.8,
            -5.4,
            -5.7,
            -4,
            -7.3,
            -7.6,
            -5.6,
            -3.4,
            -4.2,
            -3.2,
            -2.4,
            -6.5
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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. Market non-financial services showed the largest increase (4.5%) and Electricity and water supply, sewerage and waste management the largest decrease (-37.7%).

Business Turnover Index, Total and by sectors. March 2024

Annual rates

Monthly trend of BTI

The monthly variation of the seasonally and calendar adjusted Business Turnover Index between the months of March and February of 2024 stood at -2.5%. This rate was 2.4 points lower than the previous month.

Business Turnover Index, Total. Seasonally and calendar adjusted

Monthly rate. Percentage

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        "Nov-22",
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        "Jun-23",
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        "Aug-23",
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            -0.1,
            5.2,
            1.5,
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            2.9,
            0.9,
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            -3.9,
            -1.3,
            -0.3,
            0.4,
            -0.6,
            0.6,
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            1.5,
            -0.8,
            0.5,
            -0.1,
            -2.5
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All the analyzed sectors showed negative monthly rates. Electricity and water supply, sewerage and waste management showed the highest decrease (-6.5%) followed by Trade (-4.1%)

Revisions and data update

On the press release day, INE has updated BTI data series corresponding to the last 13 months. In the case of calendar adjusted and seasonally and calendar adjusted series, according to INE standard, the series are revised since its beginning. The results 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:: ongoing monthly.
Base year:: 2021.
Population scope:: the business turnover Index provides a comprehensive and weighted measure of the business turnover for the economic sectors Extractive and manufacturing industries, the Supplying of electricity and water, Treatment and management of waste, Trade and Non-financial market Services.
Geographical scope:: the whole country.
Results reference period:: 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.