Turnover in service industries grew by 7.6 per cent in September to November

Service industries generated 7.6 per cent more turnover in the September to November 2008 period than in the respective time period of the year before. In the previous three-month period that ended in August their turnover increased by 7.4 per cent. Services are here examined exclusive of trade and the data have been adjusted for working days by eliminating effects of calendar variations from them.

Among the main service industries, turnover grew fastest in real estate, renting and business activities where it was up by 10.7 per cent on the corresponding time period of the previous year. In hotel and restaurant activities, turnover increased by 5.8 per cent in the latest three-month period. The growth of turnover in transport, storage and communication activities amounted to 4.6 per cent in the September to November period. In other community, social and personal service activities turnover went up by 9.2 per cent.

The economic downturn can be seen towards the end of the examined period. In November, the growth in the combined turnover of service industries slowed down to under three per cent from November 2007. Turnover turned to a decline in transport, storage and communication activities. No slowing down of growth could be observed in other community, social and personal service activities.

Year-on-year change in turnover of services, three-month averages adjusted for working days and year-on-year change in latest month, %

	Year-on-year change by three-month period % *				Year-on-year change in latest month %
	12/2007-2/2008	3-5/2008	6-8/2008	9-11/2008	11/2008
Services, total (excl. trade)	9.6	8.4	7.4	7.6	2.6
- Hotels and restaurants	8.1	6.1	4.3	5.8	2.7
- Transport, storage and communication	7.0	6.2	6.2	4.6	-1.7
- Real estate, renting and business activities	13.1	10.2	8.9	10.7	5.4
- Other community, social and personal service activities	11.1	9.5	9.0	9.2	10.1
*) Year-on-year change by three-month period compares the value for a period of three statistical reference months to the value for the corresponding three-month period of the previous year.

The revised standard industrial classification, TOL 2008, and base year 2005=100 will be introduced in these statistics starting from data concerning January 2009. A news item about the adoption of TOL 2008 in statistics on turnover of service industries is posted on the home page of the statistics.

Source: Turnover of service industries 2008, November. Statistics Finland

Inquiries: Ms Katja Äijö +358 9 1734 2659, palvelut.suhdanne@stat.fi

Director in charge: Hannele Orjala

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Last updated 13.2.2009

Referencing instructions:

Official Statistics of Finland (OSF): Turnover of service industries [e-publication].
ISSN=1799-0998. November 2008. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/plv/2008/11/plv_2008_11_2009-02-13_tie_001_en.html