Salaries in large companies rose 3.9% in July

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Salaries in large Spanish companies increased by 3.9% in July compared to the same month of the previous year, a rise higher than that of June but in line with those of previous months, which stabilizes the increase so far this year by an average of 3.5%.

This average rise of 3.5% is higher than the 1% registered in 2021 and you have to go back to 2008 to find a year with a higher rate, which represents a change in trend that is explained in the context of high inflation, according to the report on sales, employment and salaries in large companies published this Thursday by the Tax Agency.

In July, the growth in the number of recipients of work income – fiscal indicator of salaried employment – moderated to 5.2%, an increase lower than the rate of the two previous months and the growth of more than 6% in the first half of the year .

The growth of total sales of large companies (deflated and corrected for seasonal and calendar variations) moderated in July for the third consecutive month to 5.2% year-on-year.

The cause of the slowdown in July was the slowdown in domestic sales to 3.1% year-to-year, almost four points less than the rate for June.

Exports, on the other hand, recovered part of the intensity lost in the month of June and grew by 12.1%, a rate close to the average for the year, thanks to the good results in sales to third countries outside the European Union .Salaries in large companies rose 3.9% in July

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