Turnover in service industries grew by 5.7 per cent and volume by 2.7 per cent in May 2023

Release related to topics:Enterprises

release 14/07/2023 | Turnover of service industries 2023, May

According to Statistics Finland, working day adjusted turnover in service industries grew by 5.7 per cent in May 2023 from May 2022. Service output or volume, from which the impact of prices has been eliminated, grew by 2.7 per cent over the same period. In April 2023, turnover grew of 6.4 per cent and volume correspondingly rose by 2.8 per cent. Services are here examined exclusive of trade

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Key selections

Turnover in transportation and storage was falling in May 2023.
The volume of transportation and storage was also falling.
Other main service industries were growing.

Turnover in transportation and storage made a downturn in May 2023

Working day adjusted turnover declined in transportation and storage by 0.6 per cent in May 2023 from May 2022, while the volume of the industry fell by 6.7 per cent over the same period. The volume of the industry already made a downturn in September 2022. The volume development of transportation and storage is influenced by a sharp upturn in prices in the industry during 2022.

Other main service industries grew in May 2023 from the year before. Among the main service industries, turnover grew most in real estate activities. Working day adjusted turnover in the industry rose by 9.9 per cent from May 2022 while the volume grew by 6.0 per cent over the same period. In May 2023, working day adjusted turnover in accommodation and food service activities increased by 9.6 per cent and the volume by 3.3 per cent.

Working day adjusted turnover in professional, scientific and technical activities grew by 8.2 per cent from May 2022 while the volume rose by 6.5 per cent over the same period. Among the main industries, information and communication activities and other service activities grew at the same rate in May 2023. Working day adjusted turnover in the industries rose by 7.0 per cent. The volume of information and communication activities went up by 4.7 per cent in May 2023.

Working day adjusted turnover in administrative and support service activities grew by 6.9 per cent from May 2022. At the same time, the volume of the industry grew by 2.6 per cent. Turnover adjusted for working days in arts, entertainment and recreation grew by 1.0 per cent in May 2023 from May 2022.

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Turnover and output grew from the previous month

Seasonally adjusted turnover in service industries rose by 0.4 per cent in May 2023 compared to April. Service output or volume, from which the impact of prices has been eliminated, rose by 0.2 per cent over the same period. Both turnover and volume went up by 0.4 per cent in April 2023 from March.

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