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Published: 14 September 2020

Turnover in trade started to grow in July

According to Statistics Finland, turnover in total trade adjusted for working days rose in July by 1.1 per cent from July 2019. Over the same time period, the working day adjusted volume of sales, from which the impact of prices has been eliminated, increased by 2.8 per cent. Turnover grew in July in all sectors of trade apart from wholesale trade. In retail trade, the growth continued steady and the development of motor vehicle trade also turned positive.

Annual change in working day adjusted turnover and sales volume in total trade (G), %

As in the previous months, working day adjusted turnover in wholesale trade decreased by 2.6 per cent in July, whereas sales volume in the industry started to grow by 1.2 per cent from one year ago. The working day adjusted development of turnover in motor vehicle trade turned positive in July, as the growth amounted to 5.0 per cent year-on-year. Sales volume grew more moderately by 3.8 per cent compared with July 2019. In retail trade, working day adjusted turnover grew in July in total by 4.9 per cent and sales volume by 4.5 per cent. In the more detailed industries of retail trade, working day adjusted turnover grew by around five per cent both in daily consumer goods, department store and specialised store trade. The volume of sales in these industries also developed favourably. The great differences in working day adjusted turnover and sales volume in daily consumer goods trade are explained by risen prices and correspondingly, in wholesale trade by fallen prices.

Annual change in working day adjusted turnover and sales volume in industries of trade, July 2020, % (TOL 2008)

Turnover and sales volume grew from the previous month

Seasonally adjusted turnover in total trade grew by 1.5 per cent in July compared to June. Sales volume grew by 1.2 per cent during the same period. In June, turnover rose by 4.9 per cent and sales volume by 3.4 per cent from the month before.

Change in seasonally adjusted turnover and sales volume in total trade (G) from the previous month, %

Trend of turnover and sales volume in total trade

The calculation of indices of turnover of trade is based on the Tax Administration’s data on self-assessed taxes, which are supplemented with Statistics Finland’s sales inquiry. The volume index of sales is calculated by removing the effect of price changes from the value index series.

The factors caused by the variation in the number of weekdays are taken into account in adjustment for working days. This means taking into consideration the lengths of months, different weekdays and holidays. In addition, seasonal variation is eliminated from seasonally adjusted series, on account of which it makes sense to compare observations of two successive months as well.

The data for the latest month are preliminary and they may become significantly revised particularly on more detailed industry levels in coming months.

Source: Turnover of trade, Statistics Finland

Inquiries: Suvi Kiema 029 551 3509, Reetta-Maria Salokannel 029 551 3657, palvelut.suhdanne@stat.fi

Head of Department: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Annual change of working day adjusted turnover and sales volume in industries of trade, % (TOL 2008) (14.9.2020)

Revisions in these statistics

• Revisions in these statistics (14.9.2020)

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Updated 14.09.2020