Turnover in service industries grew by 2.0 per cent and volume by 0.2 per cent in August 2023

Service industries growing

Among service industries, growth in August 2023 was strongest in real estate activities, where working day adjusted turnover rose by 9.5 per cent from August 2022. At the same time, growth in the volume of the industry was also fastest among service industries, up by 6.1 per cent. The turnover of other service activities rose by 7.4 per cent in August 2023. Turnover in administrative and support service activities, in turn, grew by 5.0 per cent, while volume was 0.6 per cent higher than in August 2022.

Turnover in professional, scientific and technical activities went up by 4.6 per cent and volume by 3.2 per cent in August 2023 from one year earlier. The working day adjusted turnover of accommodation and food service activities was 4.3 per cent higher than in August 2022, while volume fell by 1.7 per cent. The turnover of information and communication activities rose by 2.8 per cent from August 2022, while the volume of the industry fell slightly by 0.1 per cent.

In the industry of arts, entertainment and recreation, turnover went up by 0.7 per cent in August 2023 from August 2022. Among the main service industries, the development was weakest in transportation and storage, where working day adjusted turnover fell by 5.8 per cent from August 2022. At the same time, the volume of the industry decreased by 4.9 per cent.

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Turnover and output grew from the previous month

Seasonally adjusted turnover in service industries rose by 0.3 per cent in August 2023 compared to July. Service output or volume, from which the impact of prices has been eliminated, rose by 0.2 per cent over the same period. In July 2023, turnover fell by 0.2 per cent and volume by 0.8 per cent from June 2023.

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