Industry turnover stagnates in October after half a year of declines.

The Spanish Industry sector has registered an interannual variation of zero this October, according to data published this Tuesday by the National Institute of Statistics (INE). This figure marks a change in trend compared to recent months, with the first reading out of negative territory after six months of declines.

After correcting seasonal and calendar effects, on the other hand, the interannual rate of variation in industrial turnover shows a drop of 2.7%, which would make the index its seventh negative month, with turnover below that recorded. The same month of the previous year.

The sector’s turnover fell by an average of 0.9% between January and October of this year, with significant declines in sectors such as coke plants and oil refining or the chemical industry, which recorded declines of 21.1% and 19.4%. , respectively, in their business figures compared to the same period of the previous year.

Spanish turnover in the euro zone grows by 3.5%

By economic destination of the goods, billing decreased in October by 13.8% in energy (except electricity and gas supply), but rose by 10.5% year-on-year in capital goods. By markets, industrial turnover fell by an average of 1.3% in the internal market, although it improved by 3.5% in the euro zone and 2.9% in the non-euro zone.

In October and by region, the Canary Islands, Navarra and Madrid were the autonomous regions where industrial turnover grew the most, by 13.6%, 10.4% and 8.5%, respectively. On the contrary, this index decreased in an interannual rate and with greater intensity in Cantabria (9.8%), Asturias (9.5%) and Valencian Community (7.3%).