Turnover and output in services fell in April

Working day adjusted turnover in service industries fell by 16.9 per cent in April 2020 from April 2019. Service output or volume, from which the impact of prices has been eliminated, fell by 14.1 per cent over the same period. In this year’s March both turnover (-4.8%) and volume (-3.4%) were falling 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, %

Among the main service industries, development was weakest in April 2020 in accommodation and food service activities, where working day adjusted turnover fell by 68.2 per cent from April 2019. In the corresponding period, the volume in the industry also went down steeply by 68.4 per cent. In the industry of arts, entertainment and recreation, working day adjusted turnover decreased by 40.9 per cent from April 2019.

The working day adjusted turnover of the biggest service industry, transportation and storage activities, decreased by 28.0 per cent from April 2019. At the same time, the volume of the industry fell by 25.5 per cent. Other service activities also fell more strongly than average for the main service industries, where working day adjusted turnover fell by 18.1 per cent from April 2019.

Administrative and support service activities, as well as professional, scientific and technical activities also declined. Adjusted for working days, turnover in administrative and support service activities fell by 15.2 per cent from April of the year before. At the time, the volume in the industry also fell by 13.0 per cent. The fall in working day adjusted turnover in professional, scientific and technical activities was more subdued, being 5.0 per cent from April 2019. The industry’s volume went down by 3.5 per cent in the corresponding period.

Among the main service industries, slight positive development was attained in April 2020 in real estate activities and in information and communication activities. The working day adjusted turnover of real estate activities went up by 0.6 per cent from April 2019. In the correspond period, the volume in the industry went down by 0.6 per cent. Adjusted for working days, turnover in information and communication activities grew by 0.4 per cent, while the volume of the industry increased by 1.1 per cent over the same period from April 2019.

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

Turnover and output contracted from the previous month

Seasonally adjusted turnover in service industries declined in April 2020 by 11.1 per cent compared to March. The output of services, from which the impact of prices has been eliminated, fell by 10.1 per cent over the same period. In March, turnover went down by 7.1 per cent from February 2020. Similarly, the volume then fell by 5.1 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 Yl�-Jarkko

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Appendix table 1. Annual change in working day adjusted turnover and volume in sectors of services, % (TOL 2008) (15.6.2020)

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Revisions in these statistics (15.6.2020)

Updated 15.06.2020

Referencing instructions:

Official Statistics of Finland (OSF): Turnover of service industries [e-publication].
ISSN=1799-0998. April 2020. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/plv/2020/04/plv_2020_04_2020-06-15_tie_001_en.html