Turnover in service industries grew by 16.7 per cent and volume by 5.6 per cent in August 2022

Volume of services growing except for transportation and storage

Turnover grew in all main service industries in August 2022 from the previous year. Working day adjusted turnover in transportation and storage grew strongly and rose by 28.3 per cent from August 2021. In the correspond period, the volume in the industry went down by 3.0 per cent. The development is based on a strong rise in prices in the industry of transportation and storage.

Among the main service industries, growth was strongest in accommodation and food service activities, where working day adjusted turnover grew by 31.7 per cent and volume by 20.6 per cent from August 2021. The turnover trend of accommodation and food service activities has already reached the level prior to the coronavirus, but the volume still lags behind. With a growth of 17.6 per cent, administrative and support service activities also reached stronger development than turnover in the whole service industry. In August 2022, the volume of the industry grew by 11.0 per cent year-on-year. 

In the industry of arts, entertainment and recreation, working day adjusted turnover strengthened by 15.7 per cent from August 2021. In information and communication activities, working day adjusted turnover grew by 12.6 per cent in August 2022 while the volume of the industry grew by 10.5 per cent over the same period. 

Working day adjusted turnover in professional, scientific and technical activities grew by 10.7 per cent and volume by 6.3 per cent from August 2021. In August 2022, working day adjusted turnover in other service activities increased by 6.0 per cent year-on-year. The working day adjusted turnover of real estate activities grew by 3.4 per cent and volume by 1.6 from August 2021.

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Turnover and output grew from the previous month

Seasonally adjusted turnover in service industries rose by 0.5 per cent in August 2022 compared with July. The output of services, from which the impact of prices has been eliminated, grew by 0.6 per cent over the same period. In July of 2022, turnover grew by 1.0 per cent from June, while volume decreased by 0.8 per cent.

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