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Published: 14 May 2020

Growth in turnover in trade halted in March

According to Statistics Finland, turnover in total trade adjusted for working days fell by 2.1 per cent in March from March 2019. Over the same period, the working day adjusted volume of sales, from which the impact of prices has been eliminated, decreased by half a per cent. Turnover fell in all main industries. Turnover in retail trade remained almost on level with the previous year, while in wholesale and motor vehicle trade it decreased more clearly compared to one year ago. The exceptional situation caused by coronavirus had an effect on the development of trade industries.

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

In wholesale trade, working day adjusted turnover decreased by 2.4 per cent in March, while the sales volume of the industry grew by 0.7 per cent year-on-year. In motor vehicle trade, working day adjusted turnover fell by 4.6 per cent and sales volume by 5.2 per cent. In retail trade, working day adjusted turnover and sales volume both fell by only under half a per cent from March 2019. Retail trade was boosted in March especially by daily consumer goods trade, as the working day adjusted turnover of the industry concerned grew by 6.4 per cent. Turnover in department store trade contracted most, down by 12.0 per cent from the year before. In specialised store trade turnover fell, in turn, by 6.3 per cent. The great differences in the development of working day adjusted turnover and sales volume especially in wholesale trade are explained by fallen prices and correspondingly, in daily consumer goods trade by price rises.

Annual change in working day adjusted turnover and sales volume in industries of trade, March 2020, % (TOL 2008)

Turnover and sales volume declined by good one per cent from the previous month

Seasonally adjusted turnover and sales volume in total trade both fell by 1.1 per cent compared to February. In February turnover also declined from the month before (-0.5%), the volume of sales then remained on level with the previous month.

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

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, 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) (14.5.2020)

Revisions in these statistics

• Revisions in these statistics (14.5.2020)

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Updated 14.05.2020