Business Turnover Index (BTI) in Spain: the annual rate stands at 6.8% in the seasonal and calendar adjusted series and at 4.9% in the original series
National Statistics Institute (ICEX) in Spain has just released the Business Turnover Index (BTI) (june 2018) which reflects that the monthly variation of the Business Turnover1 stands at 0.6%, after seasonal and calendar adjustment. its own, the annual rate stands at 6.8% in the seasonal and calendar adjusted series and at 4.9% in the original series.
Monthly trend of Business Turnover
The monthly variation of the seasonally and calendar adjusted Business Turnover Index between the months of June and May of 2018 stood at 0.6%. This rate was seven tenths lower than the previous month.
Only one out of the four analyzed sectors showed negative monthly rates. Trade showed the highest increase (0.7%). On the other hand Electricity and water supply, sewerage and waste management showed the only decrease (-0.2%).
Annual trend of the Business Turnover
The Total Business Turnover Index, once adjusted for seasonal and calendar effects, showed a variation of 6.8% in June, as compared with the same month of the previous year. This rate was one point higher than the one registered in May.
The BTI original series registered an annual variation of 4.9%. This rate was 1.1 points lower than the one in May.
About the BTI
The Business Turnover Index (BTI) offers a joint and weighted measurement of the Turnover of the following economic sectors: Extractive and manufacturing industries, Electricity and water supply, sewerage and waste management, Trade and Market non-financial services.
The BTI is a value index that measures turnover evolution of the sectors it is formed by, therefore the information presented is always in current terms of each period. Activities included in the BTI represent 48.5% of GDP at market prices. This percentage increases to 65.9% if Public Administrations and net Taxes on products are excluded.
In order to comply with the European Statistics Code of Practice, this operation has been designed in such a way that its performance has not involved an increased burden for the respondents, insofar as it is obtained, on the one hand, by re-using the information resulting from three other INE statistical operations: Industrial Turnover Indices, Services Sector Activity Indicators and Retail Trade Indices and, on the other, by using the existing information in administrative registers: Sales reported by Large Companies in the auto-assessment of VAT in the sector not covered by the aforementioned surveys.
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