Volume of services up 3.7% in 2025

The Volume of Services Business Index rose 3.7% in 2025 while in December the index posted a like-for-like nominal variation of 3.4%, representing an increase of 1.8% on November, 2025.

For the year as a whole, the employment and salaries indexes posted annual average variations of 3.4% and 9.5% respectively. It was a fall on the 4.8% posted for employment and 11% posted for salaries one year ago.

In the fourth quarter of 2025, the aggregated index grew 3.1% on the same period in 2024.

In December, the turnover index in services registered a nominal year-on-year variation of 3.4%, representing an acceleration of 1.8 percentage points (p.p.) compared to the rate registered in the previous month.

The nominal index, not adjusted for seasonal and calendar effects, increased by 2.2% in December, year-on-year, accelerating 0.7 p.p. compared to the rate recorded in the previous month.

The transport and storage sector recorded the highest contribution (1.0 p.p.) to the year-on-year change in the total index in December, as a result of growth of 3.8%, accelerating 1.2 p.p. compared to November.

SOURCE: INE/Observador