This company turnover rose by 31.1 percent in August compared with the same month in 2021. The rise, reported by the National Institute of Statistics through the Business Turnover Index, was a notable gain that extended the momentum seen in the prior month by 7.3 points.
The upturn marks the strongest performance since last May, as businesses logged 18 straight monthly increases following a year challenged by the Covid impact. This broad improvement covered all sectors, with energy and water supply leading the way by a remarkable 104.3 percent in August, and with positive activity across the board. The industrial sector also posted a substantial increase, with turnover up 28.1 percent year over year for August. Trade and services segments contributed solid gains of 23.7 percent and 22.4 percent respectively compared with August 2021.
Seasonally and calendar adjusted turnover rose by 30.1 percent in August and stood 2.8 points above July. In the adjusted series the strongest gains were recorded in power and water supply at 103.4 percent and in industry at 27.1 percent, followed by trade at 23.2 percent and services at 21.7 percent.
Billing increased 3.2 percent month over month
In August, business invoicing in both nominal terms and the adjusted series advanced by 3.2 percent, marking the largest monthly increase since April when the rise exceeded 5 percent.
All sectors, including electricity and water supply which expanded turnover by 9.3 percent in August, and industry which sold 4.1 percent more than in July, showed positive monthly rates in August.
Trade expanded its sales by 2.3 percent from July, while the services sector recorded a 1.5 percent rise in invoicing compared with July.