Turnover and output in services grew in June

Working day adjusted turnover in service industries grew by 5.1 per cent in June 2019 from June 2018. Service output or volume, from which the impact of prices has been eliminated, grew by 3.5 per cent over the same period. In May 2019, turnover also reached a growth of 5.1 per cent, while volume then went up by 3.7 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 June 2019, the strongest growth among the main service industries was recorded in administrative and support service activities, where turnover adjusted for working days reached a 7.7 per cent growth from June 2018. At the same time, the volume of the industry increased by 7.1 per cent, which, measured by volume, was the highest growth among service industries. In accommodation and food service activities turnover also grew strongly and was 6.9 per cent up from the previous year. Correspondingly, the volume of the industry reached a growth of 4.9 per cent. In professional, scientific and technical activities, in turn, turnover grew by 5.7 per cent, while the volume rose by 3.7 per cent.

Among the main industries, transportation and storage, information and communication and real estate activities reached the average growth for service industries. Measured by turnover, the biggest service industry, that is, transportation and storage activities, grew by five per cent and the volume of the industry by 2.8 per cent from the previous year. Information and communication and real estate activities both increased their turnover by 5.1 per cent, while the corresponding volume figures were 4.3 per cent and 2.8 per cent.

Measured by turnover, the development was weakest in arts, entertainment and recreation, where working day adjusted turnover contracted by 10.2 per cent from June 2018.

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

Turnover grew more strongly than output compared with the previous month

Seasonally adjusted turnover in service industries increased in June 2019 by 0.8 per cent compared to May. The output of services, from which the impact of prices has been eliminated, grew by 0.4 per cent over the same period. One month earlier, turnover decreased by 0.4 per cent from April 2019, while the volume decreased by 0.3 per cent.

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, Tony Valve 029 551 3453, palvelut.suhdanne@stat.fi

Director in charge: Mari Yl�-Jarkko

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Appendix table 1. Annual change in working day adjusted turnover and volume in sectors of services, % (TOL 2008) (15.8.2019)

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Revisions in these statistics (15.8.2019)

Updated 15.8.2019

Referencing instructions:

Official Statistics of Finland (OSF): Turnover of service industries [e-publication].
ISSN=1799-0998. June 2019. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/plv/2019/06/plv_2019_06_2019-08-15_tie_001_en.html