Real estate drives economic expansion/ Services close 2025 with growth, but employment falls in some sectors
The services sector continues its positive performance in the fourth quarter of 2025, marking an overall increase in net sales, employment and wages, compared to the same period a year earlier.
Net sales in volume increased in most activities, with the exception of information and communication, which recorded a slight decrease of 1.4%. The strongest growth was again recorded by the real estate activity with 36.4%, confirming the dominant role in the expansion of the sector. High performance was also recorded by hotels with 12.3% and bars-restaurants with 7.1%, while transport, storage and postal services increased by 6.1%. More modest growth was recorded in legal and accounting services with 0.3%.
The labor market also appears to be developing, although at a more mixed pace. Employment increased significantly in wholesale and retail trade by 9.3% and in hotels by 8.6%. Increases were also recorded in real estate, travel agencies and engineering activities. On the other hand, employment decreased in transportation by 3.0%, in security and investigation activities by 2.7%, and in office administration by 8.6%.
Wages continue to increase in most activities, reflecting pressures in the labor market. The highest increases were recorded in hotels by 22.5% and real estate by 30.0%. There was also a significant increase in transport and travel agencies by 8.4% each, as well as in trade by 7.5%. In contrast, wage decreases were recorded in security and investigation activities by 7.7% and in office administration by 11.5%.
The data confirm that the services sector remains one of the main contributors to economic growth, supported mainly by the dynamics of tourism and the development of the real estate market.
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