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Published: 13 March 2019

Development of turnover in trade weaker in January than in the previous months

According to Statistics Finland, the working day adjusted turnover of total trade grew by 0.6 per cent in January compared to January 2018. In previous months, turnover in trade has developed more positively and it has grown by over two per cent in the past three months. The working day adjusted sales volume, from which the impact of price changes has been eliminated, went down by 0.3 per cent in January compared with January the previous year. The contraction in motor vehicle trade weakened the development of both turnover and sales volume in January.

Annual change in working day adjusted turnover and sales volume in total trade (G), %

Among industries of trade, working day adjusted turnover grew in January in wholesale trade by 1.9 per cent and in retail trade by 0.4 per cent. The growth in retail trade was due to positive development in specialised store and department store trade, whereas turnover in daily consumer goods trade decreased from one year ago. In daily consumer goods trade, working day adjusted turnover went down by 0.3 per cent and sales volume by 2.6 per cent. In turn, trade developed weakest in January in motor vehicle trade where working day adjusted turnover decreased by 4.4 per cent and sales volume by 3.5 per cent year-on-year. The big difference in development of turnover and sales volume particularly in wholesale trade and daily consumer goods trade is due to rise in prices.

Annual change in working day adjusted turnover and sales volume in industries of trade, January 2019, % (TOL 2008)

Turnover and sales volume almost on level with the previous month

Compared to the previous month, seasonally adjusted turnover and sales volume in total trade were in January almost on level with the previous month (-0.1%). In December, turnover declined by 0.3 per cent while sales volume grew by 0.5 per cent. In November, turnover in trade grew by 0.3 per cent and sales volume by 0.5 per cent.

Change in seasonally adjusted turnover and sales volume in total trade (G) from the previous month, %

Trend of turnover and sales volume in total trade, 1/2009 to 1/2019

The calculation of indices of turnover of trade is based on the Tax Administration’s data on self-assessed taxes, which are supplemented with Statistics Finland’s sales inquiry. The volume index of sales is calculated by removing the effect of price changes from the value index series.

The factors caused by the variation in the number of weekdays are taken into account in adjustment for working days. This means taking into consideration the lengths of months, different weekdays and holidays. In addition, seasonal variation is eliminated from seasonally adjusted series, on account of which it makes sense to compare observations of two successive months as well.

The data for the latest month are preliminary and they may become significantly revised particularly on more detailed industry levels in coming months.

Source: Turnover of trade, Statistics Finland

Inquiries: Suvi Kiema 029 551 3509, Seija Karttunen 029 551 2741, palvelut.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Annual change of working day adjusted turnover and sales volume in industries of trade, % (TOL 2008) (13.3.2019)

Revisions in these statistics

• Revisions in these statistics (13.3.2019)

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Updated 13.03.2019