The Total Business Turnover Index, once adjusted for seasonal and calendar effects, showed a variation of -3.2% in January, as compared with the same month of the previous year. For other hand, the BTI original series registered an annual variation of -0.8%
The seasonally and calendar adjusted indices showed negative annual rates in three of the four analysed sectors.
The monthly variation of the seasonally and calendar adjusted Business Turnover Index between the months of January 2024 and December of 2023 stood at 0.6%. This rate was 1.5 points higher than the previous month.
Of the four analyzed sectors, Electricity and water supply, sewerage and waste management showed the highest increase (0.8%). On the other hand Trade showed the only decrease (-0.3%).
Today INE has disseminated BTI data since 2002 in the new 2021 base. All the results of this operation are available at INEbase.
The National Statistics Institute (INE) disseminates today the Business Turnover Index (BTI) in base 2021.
The base change consists on reviewing and updating the components involved in the calculation of the index. The objective is to obtain an indicator that adapts to the changes that have occurred over the last six years in the different activities of the industrial sector, so that it measures the evolution of this sector more precisely, resulting in a more representative BTI.
The main change in base 2021 is the update of the weighting structure.
The weightings involved in the calculation of the general index have been obtained from the data of the structural surveys: Structural Business Statistics: Industrial Sector, Structural Business Statistics: Trade Sector and Structural Business Statistics: Services Sector, referred to 2021.
The weightings of each aggregate represent the relationship between the invoicing value or turnover of the activities of which it is composed and the total invoicing of the activities that make up the population scope of this index: Extractive and manufacturing industries, Electricity and water supply, sewerage and waste management, Trading and Non-financial services market.
The following table includes the weight of each of the sectors, and their comparisons with the weightings of 2015.
The implementation of a new weighting structure represents a break in the continuity of the series. In order to have continuous series that allow the calculation of variation rates between different periods, and to carry out studies and predictions about the evolution of business turnover for the analyzed sectors, the INE has linked the series and published the indices in base 2021, since January 2002, to provide continuity to the published data until now.
The indices prior to 2021 have been linked by multiplying the series by a constant coefficient, thus preserving the rates of variation.
Since January 2021, the BTI series has been recalculated with a new base, using the series of sectors that comprise it in base 2021 and with the new weightings. Therefore, the variation rates of 2021, 2022 and 2023 of the BTI in base 2021 will be different to those calculated using the indices in base 2015.
The Business Turnover Index base 2021 maintains the same dissemination plan as that of the base 2015.
The main results are published, corrected for calendar effects and corrected for seasonal and calendar effects, which allows the sector to be analyzed in a clearer way..
All information on the new base of the BTI is available on the INE website.
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.
Further information is available in the methodology and in 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.
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