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Published: 15 October 2020

Turnover and output in services fell in August

Working day adjusted turnover in service industries fell by 10.8 per cent in August 2020 from August 2019. Service output or volume, from which the impact of prices has been eliminated, fell by 8.2 per cent over the same period. In this year's July, turnover went down by 10.9 per cent, while volume contracted correspondingly by 8.5 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, %

In August 2020, the weakest development among the main service industries was seen in the service industry with the biggest turnover, transportation and storage, where working day adjusted turnover fell by 24.0 per cent from August 2019, while the volume turned to a decline of 21.0 per cent in the same period. In arts, entertainment and recreation, working day adjusted turnover fell by 23.0 per cent in August 2020 from August of the year before. Adjusted for working days, turnover in accommodation and food service activities contracted by 22.9 per cent from August 2019. At the time, the volume of the industry also fell by 22.3 per cent.

Turnover development was also lower than average for service industries in administrative and support services activities, where working day adjusted turnover decreased by 11.3 per cent in August 2020 from one year ago. The 9.3 per cent drop in the volume of the industry was also weaker than the average development in the volume of service industries.

Among the main service industries, professional, scientific and technical activities (-5.3%) and other service activities (-4.6%) also fell. The volume of professional, scientific and technical activities was 5.4 per cent lower in August 2020 than in August last year.

The working day adjusted turnover of both information and communication activities and real estate activities increased by 2.2 per cent in August 2020 from one year back. Over the same period, the volumes of industries were also growing: in information and communication activities, volume grew by 5.2 per cent and in real estate activities by 0.8 per cent.

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

Turnover and output grew from the previous month

Seasonally adjusted turnover and volume in service industries both grew by 0.5 per cent in August 2020 compared with July. In July, turnover grew by 2.3 per cent from June 2020. At the same time, volume or output, from which the impact of price changes has been eliminated, showed a growth of 1.5 per cent.

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, Tony Valve 029 551 3453, palvelut.suhdanne@stat.fi

Head of Department in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Annual change in working day adjusted turnover and volume in sectors of services, % (TOL 2008) (15.10.2020)

Figures

• Appendix figure 1. Turnover and volume of service industries, trend series (15.10.2020)
• Appendix figure 2. Turnover and volume of transportation and storage, trend series (15.10.2020)
• Appendix figure 3. Turnover and volume of information and communication, trend series (15.10.2020)
• Appendix figure 4. Turnover and volume of real estate activities, trend series (15.10.2020)
• Appendix figure 5. Turnover and volume of professional, scientific and technical activities, trend series (15.10.2020)
• Appendix figure 6. Turnover and volume of administrative and support service activities, trend series (15.10.2020)

Revisions in these statistics

• Revisions in these statistics (15.10.2020)

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Updated 15.10.2020