Turnover in service industries grew by 8.2 per cent and volume by 3.5 per cent in March 2023

Turnover growing in main service industries

Among the main service industries, turnover grew most in accommodation and food service activities in March 2023. Working day adjusted turnover in the industry rose by 19.4 per cent from February one year ago while volume grew by 10.4 per cent over the same period. The working day adjusted turnover of real estate activities rose by 9.8 per cent and volume by 6.4 per cent from March 2022. Working day adjusted turnover in administrative and support service activities grew by 8.3 per cent in March 2023. The growth in the volume of the industry almost stopped and rose by only 0.3 per cent from March 2022. 

In transportation and storage, working day adjusted turnover grew by 8.0 per cent in March 2023 from March 2022, while the volume of the industry was falling by 5.4 per cent over the same period. The volume development of transport and storage is influenced by a sharp upturn in prices in the industry during 2022. The working day adjusted turnover of other service activities remained more subdued than the average growth in service industries as the industry's turnover was 7.6 per cent higher than in March of the previous year. 

Working day adjusted turnover in professional, scientific and technical activities grew by 6.8 per cent in March 2023. The volume of the industry grew faster than turnover, being 7.9 per cent up in the corresponding period. The working day adjusted turnover of information and communication activities rose by 6.1 per cent from March 2022. The volume of information and communication activities went up by 3.9 per cent over the corresponding period. In arts, entertainment and recreation, working day adjusted turnover grew by 6.0 per cent from March 2022.

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Turnover fell and output grew from the previous month

Seasonally adjusted turnover in service industries declined in March 2023 by 0.2 per cent compared to February 2023. Service output or volume, from which the impact of prices has been eliminated, rose by 0.2 per cent over the same period. In February 2023, turnover fell by 0.4 per cent and volume by 0.5 per cent from January 2023.

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