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Published: 12 September 2019

Turnover of trade grew by 1.1 per cent in July

According to Statistics Finland, the working day adjusted turnover of total trade grew by 1.1 per cent in July compared to July 2018. The development of turnover was positive in all industries of trade. The working day adjusted sales volume of total trade, from which the impact of price changes has been eliminated, increased by 0.9 per cent over the same period. The weaker development of sales volume than turnover in wholesale trade and daily consumer goods trade is due to a rise in prices.

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

In motor vehicle trade, the working day adjusted turnover increased by one per cent in July and the sales volume also by 1.1 per cent from one year ago. In wholesale trade, the working day adjusted turnover grew by 0.4 per cent, whereas the sales volume of the industry decreased by 0.1 per cent. The working day adjusted turnover of retail trade grew by 2.1 per cent and the sales volume, in turn, by 2.3 per cent from July of the previous year. Among retail trade industries, turnover grew in daily consumer goods, department store and specialised store trade.

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

Development of turnover and sales volume weaker than in the previous month

The seasonally adjusted turnover of total trade went down by 0.5 per cent in July 2019 compared to June. The sales volume also decreased by 0.7 per cent over the same period. However, In June, turnover and sales volume grew by over one per cent compared to the previous month.

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

In January to July, the working day adjusted turnover of total trade increased by 1.3 per cent and the sales volume by 0.4 per cent from the corresponding period of 2018.

Trend of turnover and sales volume in total trade

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, 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) (12.9.2019)

Revisions in these statistics

• Revisions in these statistics (12.9.2019)

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Updated 12.09.2019