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Published: 14 January 2020

Turnover and output in services grew in November

Working day adjusted turnover in service industries grew by 2.8 per cent in November 2019 from November 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 October, turnover reached a growth of 4.2 per cent, while volume went up by 3.0 per cent from one year back. The postal strike and its support strikes of over two weeks’ duration in November caused exceptional development in some of the industries. Services are here examined exclusive of trade.

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

In November 2019, the best development among the main service industries was recorded in real estate activities, where working day adjusted turnover increased by 5.4 per cent from November 2018. The volume of the industry rose by 2.7 per cent in the same period. The working day adjusted turnover of the industry of information and communication activities increased by 4.4 per cent from November 2018. The volume grew by 3.2 per cent in the same period.

Among the main service industries, good growth was also recorded in administrative and support service activities and accommodation and food service activities, in both of which working-day adjusted turnover rose by 4.1 per cent in November 2019 from one year earlier. In the corresponding period, administrative and support service activities had the fastest volume growth among service industries when measured by volume, up by 3.7 per cent from November 2018. The volume of accommodation and food service activities rose by 3.0 per cent in November 2019 from one year ago.

Professional, scientific and technical activities also developed more briskly than the average for service industries, as working day adjusted turnover grew there by 4.0 per cent from November 2018, and other service activities, where working day adjusted turnover grew by 3.5 per cent in November 2019 from one year before. The volume of professional, scientific and technical activities rose by 2.4 per cent from November 2018.

The working-day adjusted turnover of the biggest service industry, transportation and storage activities, fell by 0.7 per cent in November 2019 from one year back. In the corresponding time, the volume of the industry went down by 0.6 per cent. Among the main service industries, weakest development was seen in arts, entertainment and recreation, where working day adjusted turnover decreased by 1.0 per cent from November 2018.

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

Turnover and output contracted from the previous month

Seasonally adjusted turnover in service industries declined in November 2019 by 0.4 per cent compared to October. The output of services, from which the impact of prices has been eliminated, fell by 0.1 per cent over the same period. In October, turnover fell by 0.2 per cent from the month before. Similarly, the volume went down then by 0.1 per cent from September 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: 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) (14.1.2020)

Figures

• Appendix figure 1. Turnover and volume of service industries, trend series (14.1.2020)
• Appendix figure 2. Turnover and volume of transportation and storage, trend series (14.1.2020)
• Appendix figure 3. Turnover and volume of information and communication, trend series (14.1.2020)
• Appendix figure 4. Turnover and volume of real estate activities, trend series (14.1.2020)
• Appendix figure 5. Turnover and volume of professional, scientific and technical activities, trend series (14.1.2020)
• Appendix figure 6. Turnover and volume of administrative and support service activities, trend series (14.1.2020)

Revisions in these statistics

• Revisions in these statistics (14.1.2020)

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Updated 14.01.2020