The turnover index in services showed a nominal year-on-year change of -15.3% in November, worsening the result of the previous month by 2.2 percentage points, notes the National Statistics Institute.
The November break is the biggest since July, when the slide was 15.9%. Since April, declines in service turnover have been less and less pronounced, with November now asserting itself as the month of exception. The biggest loss of the year occurred in April, when turnover decreased by 37.3%.
INE notes, however, that data not adjusted for seasonality and calendar effects changed from -15.5% in October to -12.5% in the month under analysis.
The sections that stood out the most for the variation in the index variation were Wholesale trade; trade and repair of vehicles and motorcycles, Accommodation and Transport and Storage. The first, with an annual rate of change of -8.9% (-3.8% in October), presented the most negative contribution (-5.0 pp) to the aggregate result.
But the biggest drops are even in the category of Accommodation, catering and the like. This fell 48.2%, (-39.8% in October), with Accommodation presenting a year-on-year rate of change of -73.1% and Restoration and the like dropped 38.6%.
Transport and storage decreased 26.5% in November. Air transport continued to show a very negative rate of change (-60.2%).
The employment, wages and hours worked indexes adjusted for calendar effects, presented year-on-year changes of -8.4%, -4.1% and -11.4%, respectively (-8.3%, -6 , 2% and -12.7% in October, in the same order).
Source: Jornal de Negócios by www.jornaldenegocios.pt.
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