The National Statistics Institute (INE) reported this Friday, the 13th, that service sector turnover grew by 1.8% in January, marking a two-percentage-point slowdown compared to December. Year-on-year employment and wage indices stood at 2.0% and 7.3%, respectively (down from 2.7% and 8.1% the previous month). Month-on-month, employment fell by 1.8% (compared to 1.1% in December) and wages dropped by 14.9%, a slightly larger decrease than that observed in January 2025 (14.2%). The nominal aggregate index, without seasonal or calendar adjustments, rose 1.3% year-on-year, slowing by 1.7 percentage points compared to December. The deflated index recorded a year-on-year decline of 1.5% (having decreased by 0.5% in December). In monthly terms, the nominal aggregate index grew by 2.2% in January (0.4% in December). By sector, transport and storage provided the largest contribution to the year-on-year change in the total index, with an impact of one percentage point resulting from a 4% increase (0.1 percentage points below the December contribution). Service sector turnover rose 3.7% in 2025, below the 4.8% recorded in 2024.