The services sector grows by 8.1% in the Canary Islands in October 2024
In October 2024, the services sector in the Canary Islands recorded a year-on-year increase of 8.1% in its turnover, more than double the national average of 4.1%. These figures are part of the latest Service Sector Activity Indicators published by ISTAC.
What does this data measure?
This report tracks the short-term performance of businesses in the services sector, focusing on two key variables:
- Turnover.
- Employment.
The data is presented after adjusting for seasonal and calendar effects, based on the 2021 methodology. This adjustment eliminates factors such as the time of year, the number of working days, or the length of the month, providing clearer and more accurate insights.
Monthly and national comparison
Compared to September 2024, the Market Services Sector in the Canary Islands showed a monthly turnover increase of 2.1%, doubling the 1% recorded at the national level. These figures are also seasonally and calendar-adjusted.
Variation by sectors
By activity, the annual turnover growth in the Canary Islands stands out in:
- Hospitality: +11.2%.
- Trade: +3.6%.
Variation by autonomous communities
The performance of the services sector varies across regions. Comparing October 2024 to the same month in 2023:
- The smallest increases were seen in Aragón (+2%) and Madrid (+3.7%).
- The largest growth was recorded in Galicia (+14.1%) and La Rioja (+12.5%).
More information ISTAC