2022 Edition 38 MONTHLY STATISTICAL BULLETIN Production and consumer prices slow slightly but maintain high growth External framework In August 2022, in the Euro Area: • The economic sentiment indicator decreased, extending the profile observed since November 2021. This has resulted from increased confidence levels in Industry and Services; • The consumer confidence indicator has evolved in a different direction, with an increase; • There were also increases, even to a lesser extent, in confidence levels in the Retail trade and Construction sectors of activity. Economic activity The economic climate indicator decreased in August 2022, countering the increase in July andmoving away from the level observed in February, when it reached its peak since March 2019. The economic activity indicator stabilised in July, following the slowdown between March and June. Also in July, short-term indicators for economic activity from the perspective of production: • In nominal terms: » They continued to point to high year-on-year growth; » They slowed down in Industry; and » They accelerated in Services; • In real terms: » They accelerated in Construction; and » They declined in Industry. Still in July 2022, year-on-year: • The Industrial Production Index decreased by 0.1% (+3.9% in the previous month); • The Industrial Turnover Index increased by 24.3% (rates of change of 29.0% and 31.6% in May and June), continuing to reflect the significant increase of prices in Industry (24.8% in July); • The Services Turnover Index showed a year-on-year rate of change of +18.5% (+17.3% in the previous month); • The Retail Trade Turnover Index (deflated) accelerated to 4.8% (3.4% in June); • The Production in Construction Index accelerated for the third consecutive month, with a rate of change of 3.0% (2.2% in June); • In Tourism activity, the number of overnight stays increased by 90.1% (+110.7% in June), also showing a growth of 4.8% compared to July 2019. In August 2022, average working day electricity consumption changed year-on-year by +1.3% (+2.8% in June and +4.8% and July).
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