|Unit||Vol. Index 2014=100, NSA|
|Adjustments||Not Seasonally Adjusted|
The National Institute of Statistics (INE) reports a general trade activity index (IAC), index by activity, and index by type of product for the commerce sector. The data set also contains a single index for retail sales in supermarkets. The series are indexed 2014=100 and are not seasonally adjusted (NSA). Moody's Analytics calculates a seasonally adjusted (SA) general index.
The general index (IAC) provides a more complete and accurate analysis of the commerce sector (Section G, CIIU4) compared to its' predecessor index (IVCM). The aim of this indicator is estimating the short-term developments in the commerce sector.
According to the source, the wholesale component must be added to represent the evolution of the commerce sector in a single index.
The index encompasses retail and wholesale trade from three different divisions in the commerce sector according to CIIU4 international classification of activities:
Companies that are surveyed include enterprises in the National Directory of Companies in the 2014 accounting year. Companies main activity must be trade according to Activities in the Internal Revenue Service (SII). These companies accounted for 95% of the annual sales in the trade sector.
For the general index (WRJRTUM.ICHL), Moody's Analytics estimates data prior to January 2014.
Data is subject to revisions.