Turnover in service industries grew by 1.7 per cent in October 2023

Turnover growing in service industries

Among service industries, growth in October 2023 was strongest in real estate activities, where working day adjusted turnover rose by 9.3 per cent from October 2022. At the same time, growth in the volume of the industry was also fastest among service industries, up by 6.9 per cent. Turnover in other service activities grew by 4.3 per cent in October 2023. The working day adjusted turnover of accommodation and food service activities was 4.2 per cent higher than in October 2022, while volume went down by 0.6 per cent.

The working day adjusted turnover of information and communication activities rose by 4.0 per cent in October 2023 from one year back. At the same time, the volume of the industry grew by 1.1 per cent. Working day adjusted turnover in administrative and support service activities grew by 3.2 per cent, while volume fell by 3.7 per cent from October 2022. Working day adjusted turnover in professional, scientific and technical activities went up by 1.3 per cent from October 2022. At the same time, the volume of the industry decreased by 1.1 per cent.

In arts, entertainment and recreation, turnover went up by 0.7 per cent in October 2023 from October 2022. Among the main service industries, the development was weakest in transportation and storage, where working day adjusted turnover fell by 3.9 per cent from October 2022. At the same time, the volume of the industry decreased by 2.7 per cent.

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Turnover grew from the month before

Seasonally adjusted turnover in service industries rose by 0.6 per cent in October 2023 compared to September. Service output or volume, from which the impact of prices has been eliminated, remained on level with the previous month in the same period. In September 2023, both turnover and volume fell by 0.2 per cent from August.

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