Services turnover rises 11.2% in August but below pre-pandemic level

  • Lusa
  • 11 October 2021

According to INE, although the August 2021 index was 2.6% above its level of a year earlier (having in July been down 0.4% on the year) it remained 4.2% below its level of August 2019.

Portugal’s services turnover index rose 11.2% in August, an increase that was 0.3 of a point less than the increase seen in July, according to data released on Monday by Statistics Portugal (INE).

According to INE, although the August 2021 index was 2.6% above its level of a year earlier (having in July been down 0.4% on the year) it remained 4.2% below its level of August 2019.

“This evolution largely reflects a base effect, given that the comparison focuses on months of 2020 still affected by the pandemic, most notably in transport and accommodation and catering activities,” the INE notes in its statement.

The indices for employment, wage and hours worked in services, adjusted for calendar effects, were up 1.1%, 3.3% and 2.4% on the year, respectively, after year-on-year increases in July of 1.0%, 4.2% and 5.6%, in the same order).

The indices are obtained based on the INE’s monthly survey – mainly by email – of companies based in Portugal whose main activity is in services.