Home > Statistics > Turnover of trade > 2019 > December > Growth rate of turnover in trade slowed down in December

Published: 13 February 2020

Growth rate of turnover in trade slowed down in December

According to Statistics Finland, growth in turnover in total trade adjusted for working days slowed down towards the end of 2019, just slightly rising by 0.1 per cent in December from one year ago. Over the same time period, the working day adjusted volume of sales, from which the impact of prices has been eliminated, fell by 0.4 per cent. The contraction in wholesale trade weakened the development of both turnover and sales volume in December.

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

Among industries of trade, most growth was recorded in motor vehicle trade, where working day adjusted turnover grew in December by 9.5 per cent and sales volume by 8.6 per cent from December 2018. In wholesale trade, working day adjusted turnover and sales volume fell from the year before. In wholesale trade, turnover contracted by exactly two per cent and sales volume by 2.5 per cent. In retail trade both working day adjusted turnover and sales volume increased by good half a per cent. Growth in retail trade was affected by the positive development of daily consumer goods trade (1.9%), while turnover decreased in specialised store trade (-0.3%) and department store trade (-2.3%). The big difference in the development of turnover and sales volume particularly in daily consumer goods trade and department store trade is due to rise in prices.

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

Turnover and sales volume declined from the previous month

Seasonally adjusted turnover in total trade fell by 0.3 per cent in December from November. Over the same time period, the volume of sales fell by 0.5 per cent. In November, turnover and sales volume both remained almost on level with the previous month.

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

During January to December, turnover in total trade adjusted for working days grew by 0.8 per cent and sales volume by 0.4 per cent from the corresponding period in 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.

Industries of enterprises have been revised in the data released in February

Starting from the statistical release published in February 2020, the latest industries defined by the Business Register have been taken into use in the turnover and wage and salary indices. The industry corrections are visible as revised data in some of the published industries for the years 2018–2019. The effects of the changes are taken into consideration in statistics production so that no breaks occur in the time series of the published index series. The interpretation of the statistics also remains unchanged in the renewal. Revisions to annual changes in industries are presented under Revisions in these statistics.

Source: Turnover of trade, Statistics Finland

Inquiries: Suvi Kiema 029 551 3509, Reetta-Maria Salokannel 029 551 3657, 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) (13.2.2020)

Revisions in these statistics

• Revisions in these statistics (13.2.2020)

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Updated 13.02.2020