Services sales growth slows to 5.6% in April

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The National Statistics Institute (INE) announced today that nominal sales in services slowed to 5.6% in April, 1.3 percentage points less than in March.

According to INE, “the services sales index fell from a nominal variation of 6.9% in March to 5.6% in April”.

Unadjusted for seasonal and calendar effects, the index decelerated year-on-year to 3.9% in April (previous month: 8.4%).

In April, the calendar-adjusted employment, wages and hours worked indices showed annual variations of 4.3%, 11.0% and 3.5% respectively (4.7%, 12.8% and 6.6% in March), INE detailed.

In monthly terms, the variation in the total index was -0.8% in April, compared with 0.1% in the previous period.

The employment index rose by 0.9% quarter-on-quarter (variation of 1.3% in the same month of 2022), while the wage and hours worked indices recorded monthly variations of -0.5% and -5.2% respectively (1.1% and -2.4% in the same period of the previous year).

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