Substantial increase in working-day adjusted turnover in real estate sector

The National Statistics Office (NSO) has recorded a 128.6% increase in working-day adjusted turnover, specifically in real estate activities in their Short-term Services Indicators Q2/2018. This as part of an overall 7% increase in working-day adjusted turnover over the same quarter in 2017, and a 1.2% increase in seasonally adjusted services over the previous quarter.

When looking at the annual comparison between Q2/2018 and Q2/2017, one can observe a substantial increase in working-day adjusted turnover namely in real estate activities (128.6%); transportation and storage (9.7%); and the accommodation and food service activities (9.1%).

Decreases were recorded in the professional, scientific and technical activities (4.7%); information and communication activities (3.9%); and administrative and support service activities (0.7%).

Meanwhile employment, gross amount of wages and salaries, and hours worked, have all increased by 0.7%, 3.3%, and 3% respectively.

A quarterly comparison of the previous Quarter in 2017 shows roughly the same sectors mentioned above with similar changes, with the seasonally-adjusted services turnover index increasing by 1.2%.

The three highest increases were in real estate (89.6%), information and communication (5.1%), and transportation and storage (3.9%). Decreases were similarly recorded in the professional, scientific and technical activities (9.95), and in the administrative and support service (2.9%).

However, despite the above increases in employment and gross amount of wages and salaries, the quarterly comparison shows a decrease of 1.1% and 0.3% respectively. Hours worked, meanwhile, increased by 2.1%.

You can find the full report and figures here.