Portugal’s Industry Turnover Index grew 18.5% in June
"In nominal and year-on-year terms, Industry Turnover Index increased 18.5% in June (37.5% in the previous month)," INE announced.
The Industry Turnover Index increased again in June, but at a slower pace. In question is a jump of 18.5% compared to the same period in 2020, according to Statistics Portugal (INE). Also, in comparison with the same month of 2019, there is noticeable a positive variation (5.3%), which means that the industry is above pre-pandemic levels.
“In nominal and year-on-year terms, Industry Turnover Index increased 18.5% in June (37.5% in the previous month),” INE says, adding that this sharp increase still reflects “a base effect, as the comparison focuses on months significantly affected by the pandemic.” Still, comparing June 2021 with June 2019, the index now recorded is higher by 5.3%.
According to Statistics Portugal, In Q2 2021, the ” turnover in industry year-on-year change rates was 35.0% (1.1% in the previous quarter),” also noting that the “quarter index was equal to the same period of 2019.”
As for employment, wages and hours worked, June reported increases of 0.4%, 7.8% and 6.7%, respectively. In all cases, there was a slowdown.
