Turnover in service industries grew by 3.9 per cent and volume by 1.4 per cent in June 2023

Main service industries are growing except for transportation and storage

Among the main service industries, the development was weakest in transportation and storage, where working day adjusted turnover fell by 1.3 per cent from June 2022. At the same time, the volume of the industry decreased by 2.7 per cent. In addition to the weak development in the volume of transportation and storage, the slowdown in price increases in the industry in the second quarter of the current year is visible as a decline in turnover.

In June 2023, turnover grew strongest in accommodation and food service activities. The working day adjusted turnover of the industry grew by 7.6 per cent compared to June last year. By contrast, the growth in the volume of accommodation and food service activities amounted to just 1.4 per cent. Turnover grew almost as strongly in real estate activities, where turnover went up by 7.5 per cent in June 2023. The volume of the industry rose by 4.6 per cent from the corresponding period one year ago.

Turnover grew more moderately than before in other main service industries in June 2023. Working day adjusted turnover in administrative and support service activities grew by 6.5 per cent from June 2022 while volume rose by only 0.8 per cent. Among the main industries, other service activities increased turnover by 5.6 per cent and information and communication by 4.9 per cent in June 2023. The volume of information and communication activities went up by 2.1 per cent over the corresponding period.

Working day adjusted turnover in professional, scientific and technical activities grew by 4.0 per cent from June 2022 while the volume rose by 2.5 per cent over the same period. Turnover adjusted for working days in arts, entertainment and recreation grew by 3.4 per cent in June 2023 from June last year.

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Turnover and output fell from the month before

Seasonally adjusted turnover in service industries decreased by 0.6 per cent in June 2023 compared to May. Service output or volume, from which the impact of prices has been eliminated, fell correspondingly by 0.7 per cent. In May 2023, turnover grew by 0.9 per cent and volume by 0.6 per cent from the month before.

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