In October, company turnover declined by 3.1 percent from the same month a year earlier, a figure that eases the pace of the year over year decrease by 5.2 percentage points. This snapshot comes from the Business Turnover Index (ICNE), released this Thursday by the National Institute of Statistics and Statistics (INE).
Despite the October drop, sales have now fallen for seven consecutive months when compared with the prior year, while showing a streak of 25 months of positive results when evaluated against the previous month. This pattern highlights a gradual shift in momentum, where the year over year decline remains but with reduced intensity as the year progresses. The ICNE provides a clear view of how businesses are performing in overall invoicing and production, reflecting both seasonal adjustments and calendar effects that shape monthly comparisons. The October data capture a slower fall in turnover relative to the deeper slump seen earlier in the year, signaling a potential stabilization in the underlying business activity. These trends are reported by the INE as part of its ongoing monthly monitoring of economic activity and corporate invoicing. [INE attribution]
When adjusted for regular seasonal patterns and calendar effects, annualized turnover showed a 4.8 percent decrease in October, a rate that is 1.4 percentage points higher than the September level. This indicates a continued but gradually moderating year over year contraction after the summer period, with the adjustments revealing the true underlying trend beyond typical monthly fluctuations. Analysts watching the ICNE observe how the seasonally adjusted figure lags or leads other indicators of business health, offering a complementary view to supply chain dynamics and consumer demand. The INE continues to publish these adjusted metrics to provide a stable basis for comparison across months and years. [INE attribution]
On a monthly level, invoicing, whether measured in current values or after seasonal adjustment, fell by 0.4 percent in October compared with September. This contrasted with a 0.9 percent uptick in the preceding month and a 1.9 percent month over month decline in October of the previous year. The pattern points to a softer month for corporate invoicing, aligning with broader signals of slower growth within the economy. The INE notes that these shifts reflect a combination of domestic demand dynamics and external market conditions that influence business activity in the period. [INE attribution]