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Services Turnover Index grew 23.7%
Business turnover, employment, wage and hours worked indices in services
Services Turnover Index grew 23.7% - July 2022
09 September 2022


Services turnover index, in nominal terms and adjusted for calendar and seasonal effects, presented a year-on-year change rate of 23.7%, up by 2.9 percentage points (p.p.) from June. It is worth mentioning the Accommodation, Restaurants, and similar section, which presented a year-on-year growth rate of 62.3%, with the respective index standing 3.0% above the pre-pandemic period. In fact, July 2022 was the first month in which all sections recorded levels of activity higher than February 2020, the last pre-pandemic month.

The month-on-month change rate of the total index was 0.7% (0.8% in June).

The year-on-year change rates of the indices of employment, wages and salaries and number of hours worked adjusted of calendar effects were 7.4 %, 10.2% and 7.2%, respectively (7.7%, 8.8% and 7.2% in June).

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