Spain’s market services grow in June

Spain’s market services sector experienced a 3.3 per cent increase in turnover in June 2024, compared to the same month last year, after adjusting for seasonal and calendar effects.

However, this rate was slightly lower than the 3.9 per cent recorded in May. The original series showed a modest 0.2 per cent annual increase, a significant drop from May’s 4.0 per cent growth.

After adjusting for seasonal and calendar effects, the market services sector’s turnover index decreased by 0.6 per cent from May to June. This represents a decline of 0.6 percentage points from the rate observed in May.

Regionally, the turnover index increased in 12 autonomous communities, with La Rioja  by 4.9 per cent, Illes Balears by 4.6 per cent, and Extremadura by 2.7 per cent seeing the largest gains. Conversely, decreases were noted in Región de Murcia by 3.5 per cent, Galicia by 2.7 per cent, and País Vasco by 2.4 per cent.

The Employment Index for the services sector grew by 1.6 per cent in June year-on-year, though this was slightly down from May’s 1.9 per cent.

Attribution: Spanish Statistical Office (INE)

Subediting: M. S. Salama