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Published: 13 December 2019

Turnover and output in services grew in October

Working day adjusted turnover in service industries grew by 3.3 per cent in October 2019 from October 2018. Service output or volume, from which the impact of prices has been eliminated, grew by 2.2 per cent over the same period. In this year's September, turnover reached a growth of 5.6 per cent, while volume went up by 4.3 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 October 2019, the best development among the main service industries was recorded in accommodation and food service activities, where working day adjusted turnover increased by 5.9 per cent from October 2018. The volume development in the industry was also briskest among service industries, the volume grew by 4.1 per cent from one year ago. The working day adjusted turnover of the industry of information and communication activities increased by 4.9 per cent from October 2018. At the same time, the volume in the industry grew by 2.9 per cent.

Of the main service industries, good growth was also recoded for administrative and support service activities where working day adjusted turnover rose by 4.7 per cent from October 2018 in October 2019. The volume in the industry also grew clearly by 3.9 per cent year-on-year. The working day adjusted turnover and volume of professional, scientific and technical activities developed more briskly than the average for service industries in October 2019. The working day adjusted turnover of the industry increased by 3.4 per cent, while the volume grew by 2.9 per cent from one year ago.

The turnover of the biggest service industry, transportation and storage activities, increased by 1.7 per cent from October 2018. The growth in the industry’s working day adjusted turnover was clearly more subdued than that of the entire service industry. The volume in transportation and storage activities pushed itself to a 0.3 per cent increase in October 2019 from one year back.

Among the main service industries, weakest development was seen in arts, entertainment and recreation, where working day adjusted turnover decreased by 1.5 per cent from October 2018.

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

Turnover and output contracted from the previous month

Seasonally adjusted turnover in service industries declined in October 2019 by 0.9 per cent compared to September. The output of services, from which the impact of prices has been eliminated, fell by 0.6 per cent over the same period. One month earlier, both turnover and volume increased by 0.2 per cent from August 2019.

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) (13.12.2019)

Figures

• Appendix figure 1. Turnover and volume of service industries, trend series (13.12.2019)
• Appendix figure 2. Turnover and volume of transportation and storage, trend series (13.12.2019)
• Appendix figure 3. Turnover and volume of information and communication, trend series (13.12.2019)
• Appendix figure 4. Turnover and volume of real estate activities, trend series (13.12.2019)
• Appendix figure 5. Turnover and volume of professional, scientific and technical activities, trend series (13.12.2019)
• Appendix figure 6. Turnover and volume of administrative and support service activities, trend series (13.12.2019)

Revisions in these statistics

• Revisions in these statistics (13.12.2019)

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Updated 13.12.2019