Turnover recorded a positive change of 1.9% in March, compared to the previous month, reveal data from the National Statistics Institute (INE).
The data, from INE’s Economic Activities Index, indicates a 1.3 percent recovery in salaries and a 0.5 percent recovery in employment when compared to the previous month.
Although INE makes no mention of it, everything indicates that the improvement in the indices is directly associated with the relaxation of restrictive measures instituted by the Government to curb the spread of the Covid-19 pandemic in the country.
The measures include staff turnover in State companies and institutions, limitation of opening hours of trade and catering industry, among others.
“The slight growth in turnover was influenced by the positive variation seen in the accommodation, restaurants and similar, transport and storage, industrial production, electricity and trade sectors with 17.4%, 15.5%, 6.5%, 5.5% and 2.0%, respectively,” the INE publication reads.
The other non-financial services sector was the only one of the respondents that had a 12.0% decrease in turnover for the month under review.
The March 2021 employment index was a result of the positive variation in the industry and other non-financial services sectors, with 4.6% and 0.1% respectively.
The accommodation, restaurants and similar, trade and transport and storage sectors recorded a decline of 1.0%, 0.4% and 0.2% respectively.
The change in the compensation index in March resulted from the slight increases in the industry, transport and storage, other non-financial services and accommodation and restaurants sectors with 2.7%, 1.7%, 1.2% and 0.2%, respectively.
In contrast, the trade sector registered a negative growth of 1.0% in compensation over the same period.
Comparing the global indices of March 2021 with those of the same period in 2020, the turnover index grew by 20.5%, while the employment and compensation indices decreased by 4.9% and 9.1% respectively.
