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Service sector growth slows

Page created: Friday, 11 September 2015 14:43 GMT

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Index  INE  Service sector

The growth in the Portuguese service sector slowed to an annualised 0.1% in July, down from the 2.3% increase notched up in June, the National Institute of Statistics reported Friday.

The wholesale and vehicle repair sectors were largely to blame for this fall having seen their year-on-year June growth of 2.3% dissipate to 0.1% in July the report said.

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However, whilst that sector remained in the black, the information and communications sector sunk further into the red in July, down 0.6% on June with an annualised fall of 6.9% worsening the 4.9% contraction registered in June.

Nevertheless, the indexes detailing the prevailing trends in employment, gross earnings and hours worked all ticked upwards by 1.4%, 1% and 1.2% respectively and against the rises of 1.3%, 0.6% and 1.9% returned in June.

VP/KAR //KAR.