Monday, Spain's National Institute of Statistics announced that the service sector turnover dropped 20.5% year-over-year in February. After adjusting for calendar effects, the service sector turnover declined 18.7%.
Among the service sub sectors, trade and tourism turnover showed a decline of 23.5% and 14% respectively in February. At the same time, transport sector turnover decreased 19%.
Business services turnover dropped 14.2% in February, while information technology turnover declined 7.5%.
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