Companies’ turnover fell by 2.7% last November According to the Business Turnover Index (ICNE) published this Monday by the National Institute of Statistics (INE), compared with the same month in 2022, there was a moderate decline of four-tenths of the inter-annual decline experienced in the previous month.
With the decline in November 2023, the month in which ‘Black Friday’ is celebrated, the company’s sales chain Eight consecutive months of decline on an annual basis after remaining positive for 25 consecutive months.
Almost All sectors reported negative interest rates last NovemberExcluding services, which increased its sales by 5.7% compared to the same month in 2022.
Stands out among the declines electricity and water supplydecreased its sales by 26.4% and was followed by industry and CommerceIt reduced its turnover by 2.2% and 1.9% respectively compared to November 2022.
Company turnover, adjusted for seasonal and calendar effects, decreased by 2.7% on an annual basis last November, easing the 2.1 point decrease compared to October (-4.8%).
The biggest decrease in the adjusted series compared to the same period last year was also seen in electricity and water supply. (-26.1%), followed by industry (-2.3%) and trade (-2.2%). On the other hand, the services sector increased its annual turnover by 5.3%.
Sales increased by 1.3% due to ‘Black Friday’
Business invoicing in monthly values and adjusted series increased by 1.3% in November 2023 compared to the immediately preceding month, thus recording the largest monthly increase since August 2022.
Of the four sectors analyzed in this statistic, only electricity and water supply decreased their monthly sales (-1.8%).
At the other extreme The biggest increase in sales occurred in trade It coincides with the celebration of ‘Black Friday’, There was a 1.9% increase in turnover.