The business turnover index recorded a year-on-year increase of 2.1% in July, according to data published by Statistics Portugal. This value represents a slowdown of 2.5 percentage points compared to the previous month.
The nominal index, not adjusted for seasonal and calendar effects, slowed by 3.3 percentage points, standing at 1.9%. The deflated index decreased by 2.6%, after recording a decline of 0.1% in the previous month.
Transport and storage was the sector with the greatest contribution to the aggregate result, with 1.3 percentage points, reflecting a year-on-year growth of 5.0%. In the opposite direction, the accommodation, restaurants and similar activities sector showed a negative year-on-year growth rate for the fourth consecutive month, with -0.9% in July.
Regarding employment, wages and salaries, and hours worked indices, year-on-year variations of -1.3%, 4.9% and 0.6% were recorded, respectively, values lower than those recorded in the previous month.
