The turnover of the companies rises by 5.2% in July and chains a year of promotions

The number of businesses increased by 5.2% last July compared to the same month of 2016, rate almost two points lower than in June, according to the Indexes of Business Enterprises (ICNE) published Tuesday by the National Institute of Statistics (INE).

With the increase registered in the seventh month of the year, the turnover of the companies chain twelve months of year-on-year increases.

The year-on-year increase in the turnover of companies experienced in July was due to the upturn in sales in all sectors, especially in electricity supply (+ 8.9%). In turn, services accounted for 5.7% more than in the same month of 2016, while sales of the industry increased by 5.5% year-on-year and those of commerce, 4.2%.

Corrected the calendar effect and seasonality, business turnover also increased by 5.2% in July year-on-year, 1.3 points lower than in June.

In a month-on-month rate (July over June), excluding the seasonal and calendar effects, the companies' turnover fell by 0.4%, above the 0.2% decrease of the previous month and in contrast to the increase in 0.8% recorded a year earlier.

Of the four sectors analyzed, they all cut their monthly sales in July: electricity and water supply (-1.4%); trade (-0.8%); services (-0.3%) and industry (-0.3%).

The statistical agency first published this indicator in January 2014. On a monthly basis, ICNE provides a measure of turnover in the extractive industries and manufacturing industries; supply of electricity and water, sanitation and waste management; trade, and non-financial market services.

The INE, which has produced series for this indicator starting in 2002, has indicated that all activities included in the ICNE represent 50% of GDP at market prices, a percentage that rises to 66.5% if administrations are excluded and net taxes on products.