23 February 2024

Business Turnover Index (BTI)

December 2023 and year 2023. Provisional data

Main results

  • The annual rate of the Business Turnover in December stood at -3,1% in the seasonal and calendar adjusted series and -5,9% in the original.
  • The monthly variation of the Business Turnover in December stood at 0,2%, after seasonal and calendar adjustment.
  • Throughout the year 2023, the business turnover decresased by -1,8% in the adjusted series and -2,1% in the original series.

More information

The Total Business Turnover Index, once adjusted for seasonal and calendar effects, showed a variation of -3,1% in December, as compared with the same month of the previous year. For other hand, the BTI original series registered an annual variation of -5,9%.

Throughout the year 2023, the business turnover increases by decresased by -1,8% in the adjusted series and -2,1% in the original series.

Business Turnover Index, Total

Annual rates. Percentage

The seasonally and calendar adjusted indices showed negative annual rates in three of the four analysed sectors.

Business Turnover Index, Total and by sectors. December 2023

Annual rate

Monthly trend of BTI

The monthly variation of the seasonally and calendar adjusted Business Turnover Index between the months of December and November of 2023 stood at 0,2%. This rate was a point lower than the previous month.

Business Turnover Index, Total. Seasonally and calendar adjusted

Monthly rate. Percentage

Of the four analyzed sectors, two showed positive monthly rates and the other two negative rates. Electricity and water supply,  sewerage and waste management showed the highest increase (0,7%), while Extractive and manufacturing industries (-0,9%)  showed the highest decrease.

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.

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.

Nota metodológica

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:
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 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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