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Published: 13 September 2019

Turnover and output in services grew in July

Working day adjusted turnover in service industries grew by 3.9 per cent in July 2019 from July 2018. Service output or volume, from which the impact of prices has been eliminated, grew by 2.6 per cent over the same period. In this year's June, turnover reached a growth of 4.1 per cent, while volume went up by 2.5 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 July 2019, the best development among the main service industries was recorded in the industry of information and communication activities, where working day adjusted turnover increased by 6.5 per cent from July 2018. At the same time, the volume of the industry increased by 5.0 per cent, which was the highest growth among service industries measured by volume. In the biggest service industry measured by turnover, that is, transportation and storage activities, turnover grew by 4.5 per cent from one year ago, while the volume of the industry showed the weakest growth among service industries year-on-year, up by 1.3 per cent.

Administrative and support service activities, where turnover increased by 4.2 per cent in July 2019 from July 2018, showed brisker turnover growth than service industries on average. The 4.0 per cent turnover growth in accommodation and food service activities over the same period was at the average turnover level of service industries. Measured by volume, both administrative and support service activities and accommodation and food service activities developed faster than the combined volume of service industries.

Weakest turnover development was seen in arts, entertainment and recreation, where working day adjusted turnover contracted by 2.6 per cent from July 2018.

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

Turnover contracted as output increased slightly month-on-month

Seasonally adjusted turnover in service industries declined in July 2019 by 0.2 per cent compared to June. The output of services, from which the impact of prices has been eliminated, increased over the same period by 0.1 per cent. One month earlier, turnover grew by 0.3 per cent from May 2019. At that time, volume pushed itself to a 0.1 per cent increase.

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, Tony Valve 029 551 3453, 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) (13.9.2019)

Figures

• Appendix figure 1. Turnover and volume of service industries, trend series (13.9.2019)
• Appendix figure 2. Turnover and volume of transportation and storage, trend series (13.9.2019)
• Appendix figure 3. Turnover and volume of information and communication, trend series (13.9.2019)
• Appendix figure 4. Turnover and volume of real estate activities, trend series (13.9.2019)
• Appendix figure 5. Turnover and volume of professional, scientific and technical activities, trend series (13.9.2019)
• Appendix figure 6. Turnover and volume of administrative and support service activities, trend series (13.9.2019)

Revisions in these statistics

• Revisions in these statistics (13.9.2019)

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Updated 13.9.2019