Portugal’s Retail Trade Turnover index grew 2.6% in July

The country’s Retail Trade Turnover index registered a year-on-year change rate of 2.6% in July, representing a drop of 4.8 percentage points from the rate observed in June. However, when compared to July 2019, the July 2021 index increased by 1.1%, according to Statistics Portugal (INE).

“These results continue to be influenced by a base effect, given that the comparison focuses on months heavily affected by the pandemic, with year-on-year decreases of 4.5% and 1.5% in June and July 2020, respectively,” INE points out.

At last, the indices of employment, wages and salaries and hours worked adjusted of calendar effects ” presented year-on-year change rates of 1.0%, 4.0% and 3.3%, respectively (1.3%, 8.0% and 10.7% in the previous month, by the same order),” the statistics office explains.