Services sector turnover rises by 4.7 % in 2011 Q2

According to statistics issued by the National Statistics Office, total services sector turnover advanced by 4.7% to 115.4 points in the second quarter of 2011.

Wholesale trade advanced by 8.8% while further increases were recorded in retail trade (4.6%), accommodation and food services (2.2%) and information and communication (0.4%). A turnover decrease of 3.2% was reported in transportation and storage.

Employment within the service activities inclined by a total of 1.4% to 98.7 points over the same period of time, with increases mainly registered in accommodation and food services activities (2.6%), retail trade (2.4%) and wholesale trade (1.2%).

There was however a decrease of 1.2% in employment was registered for transportation and storage, 1.8% in administrative and support services activities, and 2.2% declination in employment registered for information and communication.

In the second quarter of 2011, gross wages and salaries advanced by 1.7% over the corresponding period of 2010. Increases were recorded in accommodation and food services activities and wholesale trade at 0.6% and 2.4% respectively. A decrease of 4.7% in gross wages was recorded in transportation and storage whilst a decrease of 1.1% was registered in administrative and support services.

Furthermore, hours worked in the services sector increased by 0.5%, driven by a rise in hours worked in accommodation and food services activities and retail trade of 0.6 and 1.2% respectively. Meanwhile, hours worked in wholesale trade and information and communication declined by 3.5 and 3.7 % respectively.