The industrial sector in the Community of Madrid experienced a significant upturn in March, with sales soaring by 17.8% compared to the same month the previous year. This performance notably outstripped the national average increase of 6.7%, as reported by the National Statistics Institute (INE). Leading the charge, Madrid, alongside the Balearic Islands and Castilla y León, showcased the most robust growth figures, highlighting regional disparities in industrial performance across Spain.
Conversely, the service sector in Cantabria saw a more modest growth of 6.5% in March, falling short of the national average increase of 7.3%. This growth, while positive, underscores the varying pace of recovery and expansion across different sectors and regions within Spain. Madrid, the Basque Country, and Galicia emerged as the frontrunners in service sector growth, whereas Extremadura, the Balearic Islands, and the Valencian Community lagged behind.
In Extremadura, the service sector's revenue grew by 2.5% annually in March, a figure that, while indicative of growth, remains below the national average of 4.3%. This growth was accompanied by a slight decrease in employment within the sector, contrasting with the national trend of employment growth. These figures reflect the ongoing challenges and disparities in economic recovery and sectoral performance across Spain's autonomous communities.
Nationally, the service sector's revenue increased by 7.3% in March compared to the same month in the previous year, marking the highest rate since April of the preceding year. This consistent growth, spanning twelve consecutive months of positive annual rates, signals a robust recovery trajectory for the sector. Meanwhile, the industrial sector's performance, with a national sales increase of 6.7% in March, demonstrates a gradual but uneven recovery, with significant regional variations.
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