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Published: 14 March 2019

Turnover and output in services grew in January

Working day adjusted turnover in service industries grew by 4.2 per cent in January 2019 from January 2018. Service output or volume, from which the impact of prices has been eliminated, grew by 2.9 per cent over the same period. In last year's December, turnover reached a growth of 5.4 per cent, while volume then went up by 3.8 per cent from one year back. Services are here examined exclusive of trade.

Annual change in working day adjusted turnover and volume of service industries, %

In January 2019, the strongest growth among the main industries was recorded in the turnover of professional, scientific and technical activities, which grew adjusted for working days by 6.1 per cent from one year earlier. Correspondingly, the volume of the industry grew by 4.1 per cent.

Real estate activities and administrative and support service activities reached an almost equally good growth compared with January 2018. Turnover in real estate activities adjusted for working days was 5.0 per cent and volume 2.4 per cent higher than one year ago. Correspondingly, turnover in administrative and support service activities attained an annual growth of 4.9 per cent and volume 6.0 per cent. Measured by volume, administrative and support service activities grew in January fastest of service industries.

At the same time, working day adjusted turnover in information and communication grew by 4.6 per cent from one year ago as volume then reached a rise of 3.4 per cent. In January 2019, the industry of transport and storage also grew faster than the average growth for service industries, where working-day adjusted turnover attained 4.3 per cent. The volume of the industry grew then by 2.0 per cent.

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

Turnover fell more strongly than output compared with the previous month

Seasonally adjusted turnover in service industries declined in January by 0.9 per cent compared to December. The output of services, from which the impact of price changes has been eliminated, fell by 0.2 per cent over the same period. Turnover and output were both growing in December compared to the preceding month.

Change in seasonally adjusted turnover and volume from the previous month of service industries , %

The data for the latest month are preliminary and they may become significantly revised particularly on more detailed industry levels in coming months. The volume of service industries is calculated by eliminating the effect of price changes from the turnover index.

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.

Source: Turnover of service industries, Statistics Finland

Inquiries: Aki Niskanen 029 551 2657, Katja Liukkonen 029 551 3515, palvelut.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Annual change in working day adjusted turnover and volume in sectors of services, % (TOL 2008) (14.3.2019)

Figures

• Appendix figure 1. Turnover and volume of service industries, trend series (14.3.2019)
• Appendix figure 2. Turnover and volume of transportation and storage, trend series (14.3.2019)
• Appendix figure 3. Turnover and volume of information and communication, trend series (14.3.2019)
• Appendix figure 4. Turnover and volume of real estate activities, trend series (14.3.2019)
• Appendix figure 5. Turnover and volume of professional, scientific and technical activities, trend series (14.3.2019)
• Appendix figure 6. Turnover and volume of administrative and support service activities, trend series (14.3.2019)

Revisions in these statistics

• Revisions in these statistics (14.3.2019)

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Updated 14.3.2019