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Services Turnover Index contracted by 17.0%
Business turnover, employment, wage and hours worked indices in services
Services Turnover Index contracted by 17.0% - March 2020
12 May 2020


Services turnover index, in nominal terms and adjusted for calendar and seasonal effects, presented a year-on-year change rate of -17.0% in March (2.5% in February). In the 1st quarter of 2020, services year on year change rate stood at -4.0% (2.4% in the previous quarter).
The year-on-year change rates of the indices of employment, wages and salaries and number of hours worked adjusted of calendar effects were 0.2%, 1.7% and -3.3%, respectively (1.7%, 5.9% and 3.9% in February, by the same order).
The information in this press release, referring March 2020, reflects probably the situation determined by the pandemic COVID-19, either in economic behavior either in the amount of data for compilation of results presented. We call for the best collaboration by firms, households and public entities in answering, despite the present difficulties, to Statistics Portugal. The quality of official statistics depends crucially on this collaboration, which INE thanks in advance.

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