Trade turnover grows 2.3% in February

The trade turnover index recorded a year-on-year growth of 2.3% in February, driven by retail sales, according to data released this Friday, the 27th, by the National Statistics Institute (INE). Retail sales grew by 4.9% in February, while wholesale trade increased by 1.8%. Conversely, the trade, maintenance, and repair of motor vehicles and motorcycles saw a contraction of 2.8%, following a 4.3% increase in January. On a monthly basis, the total index shifted from a 1.4% decrease in January to a 1.5% growth in February. The trade, maintenance, and repair of motor vehicles and motorcycles recorded a variation of 0.6% (-0.1% in the previous month), and wholesale trade, excluding motor vehicles and motorcycles, saw an increase of 2.5% after a 4.1% reduction in January. Employment and wage indices recorded year-on-year variations of 0.2% and 7.0%, respectively, in February. Trade sales index rose 2.1% in January.