Company sales fell 16.8% in March and registered the biggest drop since July 2009

The business turnover fell 16.8% in March compared to the same month of 2019, with which this indicator recorded its biggest decrease since July 2009 and broke with fourteen consecutive months on the rise, according to data published by the Institute National Statistics Office (INE)

In the accumulated index for the first quarter, business turnover registered a decrease of 5.2%, according to INE data, which reflects the impact of the coronavirus crisis on economic activity.

After adjusting for seasonal and calendar effects (difference in business days), company sales fell 18.3% in March, a rate 19.5 points lower than in February. Corrected sales have not decreased since December 2018.

Back to the original series, the turnover of commerce fell by 17.6%, and that of non-financial market services, 20.8%, while that of extractive industries and manufacturing fell 13.9% .

The electricity and water supply, sanitation and waste management companies lost the least business, with a drop in sales of 8.6% in March. .

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