Provisional seasonally adjusted data indicate that in the first quarter of 2012, turnover in selected services activities increased by 1.5 per cent over the previous quarter.

Over the corresponding quarter last year, working day adjusted industrial turnover decreased 0.8 per cent.

When compared to the previous quarter, seasonally adjusted services turnover increased by 1.5 per cent to 110.9 points. The growth in seasonally adjusted turnover was due to an increase in wholesale trade and retail trade, which recorded increases of 4.2 and 1.8 per cent respectively.

Seasonally adjusted employment remained stable when compared to the fourth quarter of 2011, while wages and salaries increased by 1.1 per cent and hours worked edged up by 0.2 per cent.

Working day adjusted turnover for the first quarter of 2012 declined by 0.8 per cent on the first quarter of 2011 mainly due to a decline in wholesale trade (-0.4 per cent) and in the information and communication sector (-4.3 per cent).

Employment in services activities decreased by 0.2 per cent when compared to the corresponding quarter last year. The sectors that mainly influenced this decline were wholesale trade and transportation and storage, which recorded drops of 0.4 and 7.3 per cent respectively.

During the period under review, working day adjusted wages and salaries and hours worked went up by 4.9 and 2.8 per cent respectively.

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