21 February 2024

Industrial Turnover Indices (ITI)

December 2023 and year 2023. Provisional data

Main results

  • The annual rate variation of the Total Industrial Turnover Index stands at -4.4% in the seasonal and calendar adjusted and -8.7% in the original.
  • The monthly variation stands at -0.9%, after seasonal and calendar adjustment.
  • Throughout the year 2023, the business turnover increases by -1.6% in the adjusted series and -1.9% in the original series.

More information

  • Tables annex (includes information by autonomous communities and original and adjusted series by sectors)
  • Detailed results (monthly and annual data)

The Industrial Turnover Index (ITI), once adjusted for seasonal and calendar effects, showed in December a variation of -4.4% as compared with the same month of the previous year.

The ITI original series registered an annual variation of -8.7%.

Industrial Turnover Index, Total. Seasonally and calendar adjusted. December 2023

Annual rate. Percentage

Throughout the year 2023, the industrial Turnover Index, once adjusted for seasonal and calendar effects, increased by -1.6% as compared with 2022, and by -1.9% in the original series.

By market, all markets showed negative annual rates in December. It is worth noting the decrease registered in the euro area in the foreign market (-11.4%).

Industrial Turnover Index, Total and by market. December 2023

Annual rate. Percentage.

Monthly trend of ITI

The monthly variation of the seasonally and calendar adjusted Total Industrial Turnover Index between the months of December and November, stood at -0.9%. This rate was 2.4 points lower than the previous month.

Industrial Turnover Index, Total. Seasonally and calendar adjusted. December 2023

Monthly rate. Percentage

By Main Industrial Groupings (MIGs), Durable consumer goods (1.6%),  Non-durable consumer goods (0.6%) and  Intermediate goods (0.5%) showed positive monthly rates. On the other hand Energy (-5.5%) and Capital goods (-3.0%) showed negative monthly rates.

Results by Autonomous Community. Annual rates of the Industrial Turnover. Original series

Turnover increased as compared to December 2022 in three Autonomous Communities and decreased in the other 14.

The largest decreases were recorded in Principado de Asturias (-20.8%), Cantabria (-18.4%) and Comunidad Foral de Navarra (-16.9%).

The only ones increases were recorded in Extremadura (2.2%), Illes Balears (1.8%) and Canarias (0.1%).

Industrial Turnover Index, Total and by Autonomous Community. December 2023


Throughout the year 2023 Canarias registered the highest increase (7.6%) and Principado de Asturias the largest decrease (-10.7%).

Revisions and data update

On the press release day, INE has updated ITI data series corresponding to the last 13 months. In the case of calendar adjusted and seasonally and calendar adjusted series, according to INE standard, series are revised since its beginning. Results are available at INEBase.

Base change

INE disseminates today the latest data on the Industrial Turnover Indices on Base 2015. The new 2021 base will incorporate changes, like the update of the weights and the outdate of the sample.

Methodological note

Industrial Turnover Indices (ITI) are short-term indicators aiming at measuring the monthly evolution of the industrial sector, excluding the construction.

The required information is collected since January 2002 through a survey addressed to more than 12.000 industrial establishments throughout the country.

Survey Type: ongoing monthly.

Base year: 2015.

Population scope: units of economic activity whose main activity is included in Sections B: Extractive industries (with the exception, due to their not being relevant to Spanish industry, of division 09) or C: Manufacturing industry of CNAE-2009.

Geographical scope: the whole country, excluding Ceuta and Melilla.

Sample size: Approx. 12,000 establishments.

Data collection: monthly, value of total business turnover broken down by market.

Collection method: fill in a questionnaire by the respondent using one of the following methods: internet (IRIA system), email, fax, telephone or post.

Further information is available in the methodology and in the standardised 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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