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Published: 14 July 2020

Turnover and output in services fell in May

Working day adjusted turnover in service industries fell by 17.5 per cent in May 2020 from May 2019. Service output or volume, from which the impact of prices has been eliminated, fell by 14.7 per cent over the same period. In this year's April, turnover went down by 15.4 per cent, while volume contracted correspondingly by 12.9 per cent. The exceptional situation caused by coronavirus had an effect on the development 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 May 2020 in accommodation and food service activities, where working day adjusted turnover and volume both declined almost as strongly. The turnover of this main industry contracted by 67.5 per cent and the volume by 67.6 per cent. In the industry of arts, entertainment and recreation, in turn, working day adjusted turnover went down by 40.4 per cent from May 2019.

The working-day adjusted turnover of the biggest service industry, transportation and storage, decreased by 28.1 per cent from May 2019. At the same time, the volume of the industry fell by 26.2 per cent. Administrative and support service activities as well as other service activities also declined strongly, the working day adjusted turnover of both main industries contracted by 14.3 per cent from May of the year before. The volume in administrative and support service activities went down by 11.3 per cent in the corresponding period.

The fall in working day adjusted turnover in professional, scientific and technical activities was clearly more subdued than in the entire service industry, being 6.8 per cent lower than in May 2019. At the same time, the volume of the industry decreased by 7.1 per cent.

Among the main service industries, working day adjusted turnover in real estate services remained on level with May of the previous year, while the volume contracted by 1.3 per cent. Correspondingly, working day adjusted turnover in the industry of information and communication decreased by 0.9 per cent in May, while the volume in the industry was the only main service industry to make a slight upturn, of 1.4 per cent.

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

Turnover and output contracted from the previous month

Seasonally adjusted turnover in service industries declined in May 2020 by 3.1 per cent compared to April. The output of services, from which the impact of prices has been eliminated, fell by 2.5 per cent over the same period. In April, turnover went down by 8.7 per cent from March 2020. Similarly, the volume then fell by 8.1 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: 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) (14.7.2020)

Figures

• Appendix figure 1. Turnover and volume of service industries, trend series (14.7.2020)
• Appendix figure 2. Turnover and volume of transportation and storage, trend series (14.7.2020)
• Appendix figure 3. Turnover and volume of information and communication, trend series (14.7.2020)
• Appendix figure 4. Turnover and volume of real estate activities, trend series (14.7.2020)
• Appendix figure 5. Turnover and volume of professional, scientific and technical activities, trend series (14.7.2020)
• Appendix figure 6. Turnover and volume of administrative and support service activities, trend series (14.7.2020)

Revisions in these statistics

• Revisions in these statistics (14.7.2020)

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Updated 14.07.2020