MAY 2022 24 Services turnover increased by 32.7% In March 2022, year-on-year: • The Services Turnover Index1 (STI) registered a nominal rate of change of 32.7% (+2.6 p.p. than in the previous month). The strong recovery in Hotels, Restaurants and Similar Establishments stood out, growing by 150.9%; • The remaining indices related to Services registered the following rates of change: » Employment: 7.4% (6.2% in February); » Wages and salaries: 8.9% (6.0% in February); » Hours worked (adjusted of calendar effects): 18.2% (21.9% in February); In March 2022, the month-on-month rate of change concerning the STI was 6.3% (1.8% in the previous month). In the 1st quarter of 2022, the STI registered a year-on-year growth of 27.9% (17.5% in the previous quarter). 1 Nominal data adjusted of calendar ans seasonal effects. More information is available at: Business turnover, employment, wages, and hours worked indices in services – March 2022 11 May 2022 32.7% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 29.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 150.9% -50.0% 0.0% 50.0% 100.0% 150.0% 200.0% Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 44.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 Services Turnover Index (year-on-year rate of change) Total Turnover Index (year-on-year rate of change) Wholesale trade, trade and repair of vehicles and motorcycles Turnover Index (year-on-year rate of change) Accommodation and food services Turnover Index (year-on-year rate of change) Transportation and storage
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