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Published: 15 May 2020

Turnover and output in services fell in March

Working day adjusted turnover in service industries fell by 6.2 per cent in March 2020 from March 2019. Service output or volume, from which the impact of prices has been eliminated, fell by 5.0 per cent over the same period. In this year's February, turnover reached a growth of 1.8 per cent, while volume then went up by 1.2 per cent from one year back. The exceptional situation caused by coronavirus had an effect on the development of some of the service industries. Services are here examined exclusive of trade.

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

In March 2020, the weakest development among the main service industries was recorded in accommodation and food service activities, where working day adjusted turnover fell by 35.4 per cent from March 2019. Over the same period, the volume of the industry also fell by 35.5 per cent, or equally much. In the industry of arts, entertainment and recreation, working day adjusted turnover decreased by 24.1 per cent from March 2019.

The working day adjusted turnover of the biggest service industry, transportation and storage activities, decreased by 12.5 per cent from March 2019. At the same time, the volume of the industry fell by 11.8 per cent.

Among the main service industries, administrative and support service activities also declined, where working day adjusted turnover fell by 3.7 per cent in March 2020 from March 2019, while volume at the same time went down by 2.4 per cent, and other service activities, where working day adjusted turnover declined by 7.0 per cent from March of the year before.

Among the main service industries, positive development was attained in March 2020 in information and communication activities, real estate activities, and professional, scientific and technical activities. Both the working day adjusted turnover and volume of the industry of information and communication activities rose by 2.6 per cent from March 2019. In real estate activities, working day adjusted turnover reached a growth of 2.5 per cent, while volume rose by 1.9 per cent. In contrast, the volume of professional, scientific and technical activities grew faster than turnover, being 2.9 per cent up on March twelve months earlier, while the working day adjusted turnover of the industry grew by 2.3 per cent in the corresponding period.

Annual change in working day adjusted turnover and volume of service industries, March 2020, % (TOL 2008)

Turnover and output contracted from the previous month

Seasonally adjusted turnover in service industries declined in March 2020 by 8.4 per cent compared to February. The output of services, from which the impact of prices has been eliminated, fell by 6.8 per cent over the same period. In February, turnover went down by 1.2 per cent from January 2020. Similarly, the volume then fell by 0.6 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, 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) (15.5.2020)

Figures

• Appendix figure 1. Turnover and volume of service industries, trend series (15.5.2020)
• Appendix figure 2. Turnover and volume of transportation and storage, trend series (15.5.2020)
• Appendix figure 3. Turnover and volume of information and communication, trend series (15.5.2020)
• Appendix figure 4. Turnover and volume of real estate activities, trend series (15.5.2020)
• Appendix figure 5. Turnover and volume of professional, scientific and technical activities, trend series (15.5.2020)
• Appendix figure 6. Turnover and volume of administrative and support service activities, trend series (15.5.2020)

Revisions in these statistics

• Revisions in these statistics (15.5.2020)

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Updated 15.05.2020