Published: 14 September 2020

Turnover and output in services fell in July

Working day adjusted turnover in service industries fell by 11.5 per cent in July 2020 from July 2019. Service output or volume, from which the impact of prices has been eliminated, fell by 8.9 per cent over the same period. In this year's June, turnover went down by 12.3 per cent, while volume contracted correspondingly by 9.6 per cent. The exceptional situation caused by coronavirus had an effect on the development of the service industries. Services are here examined exclusive of trade.

Annual change in working day adjusted turnover and volume of service industries, %

Annual change in working day adjusted turnover and volume of service industries, %

In July 2020, development was weakest among the main service industries in arts, entertainment and recreation, where working day adjusted turnover fell by 25.2 per cent from July of the year before. The working day adjusted turnover of the biggest service industry, transportation and storage activities, decreased by 25.0 per cent from July 2019. At the same time, the volume of the industry fell by 21.9 per cent.

Turnover also fell in accommodation and food service activities, where working day adjusted turnover fell by 18.3 per cent from July 2019, while the volume was down by 17.8 per cent over the same period. Turnover fell in administrative and support service activities by 13.0 per cent from July 2019. At the time, the volume of the industry also fell by 9.9 per cent.

Among the main service industries, other service activities (-4.9%) and professional, scientific and technical activities (-2.7%) also declined. Respectively, the volume of professional, scientific and technical activities was 1.0 per cent lower in July 2020 than in July last year.

In July 2020, the turnover of information and communication activities settled at the same level as in July of the previous year, while the volume of the industry then rose by 1.6 per cent. The working day adjusted turnover of real estate activities went up by 2.2 per cent from July 2019. At the same time, the volume of the industry grew by 1.1 per cent.

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

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

Turnover and output grew from the previous month

Seasonally adjusted turnover in service industries increased in July 2020 by 1.9 per cent compared to June. The output of services, from which the impact of prices has been eliminated, grew by 1.6 per cent over the same period. One month earlier, turnover grew by 8.1 per cent from May 2020. At that time, volume grew by 7.7 per cent.

Change in seasonally adjusted turnover and volume from the previous month of service industries, %

Change in seasonally adjusted turnover and volume from the previous month of service industries, %

The data for the latest month are preliminary and they may become significantly revised particularly on more detailed industry levels in coming months. The volume of service industries is calculated by eliminating the effect of price changes from the turnover index.

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.


Source: Turnover of service industries, Statistics Finland

Inquiries: Aki Niskanen 029 551 2657, Katja Liukkonen 029 551 3515, Toni Valve 029 551 3453, palvelut.suhdanne@stat.fi

Head of Department in charge: Mari Ylä-Jarkko

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Updated 14.09.2020

Referencing instructions:

Official Statistics of Finland (OSF): Turnover of service industries [e-publication].
ISSN=1799-0998. July 2020. Helsinki: Statistics Finland [referred: 26.9.2020].
Access method: http://www.stat.fi/til/plv/2020/07/plv_2020_07_2020-09-14_tie_001_en.html