Turnover and output in services grew in September

According to Statistics Finland, working day adjusted turnover in service industries grew by 10.5 per cent in September 2021 from September 2020. Service output or volume, from which the impact of prices has been eliminated, grew by 7.3 per cent over the same period. In this year’s August, turnover reached a growth of 10.7 per cent, while volume went up by 8.5 per cent from one year back. The development was partly due to the exceptional situation caused by the coronavirus one year earlier. Services are here examined exclusive of trade.

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

Service industries most hit by corona still behind September 2019

Adjusted for working days, turnover in service industries was 0.3 per cent higher in September 2021 than in September 2019 prior to the coronavirus period. In the corresponding period, the volume of the industry grew by 0.4 per cent. However, for some service industries, the development of working day adjusted turnover still remained at a lower level than in September 2019.

In September 2021, working day adjusted turnover in arts, entertainment and recreation activities was 15.7 per cent lower than in September 2019. Turnover in accommodation and food service activities was also 13.7 per cent lower and volume 13.5 per cent lower than in September two years ago. In transportation and storage, in turn, working day adjusted turnover was 10.1 per cent lower and volume 12.5 per cent lower than in September 2019.

All main service industries grew in September 2021

Turnover and volume grew in all main service industries from September 2020. In transportation and storage, turnover went up by 14.9 per cent while volume grew by 5.9 per cent. In administrative and support service activities, working day adjusted turnover rose by 14.4 per cent and volume by 9.8 per cent from September the year before. Working day adjusted turnover of accommodation and food service activities grew by 12.8 per cent from September 2020 while the volume of the industry rose by 10.9 per cent.

Professional, scientific and technical activities also grew faster than the average development for service industries, as turnover adjusted for working days grew in September 2021 by 11.4 per cent and volume by 10.8 per cent from one year before.

In information and communication activities, working day adjusted turnover grew by 7.8 per cent from September 2021 while the volume of the industry was growing by 6.7 per cent over the same period. In turn, working day adjusted turnover of other service activities grew by 6.6 per cent from September 2020. In September 2021, working day adjusted turnover in real estate activities went up by 4.7 per cent and volume by 3.4 per cent from September 2020. Correspondingly, working day adjusted turnover in arts, entertainment and recreation activities grew by 3.8 per cent.

Annual change in working day adjusted turnover and volume of service industries, September 2021, % (TOL 2008)

Turnover and output grew from the previous month

Seasonally adjusted turnover in service industries rose by 1.0 per cent in September 2021 compared with August. The output of services, from which the impact of prices has been eliminated, grew by 0.4 per cent over the same period. In August 2021, turnover grew by 0.6 per cent from July while volume remained almost on level with July.

Change in seasonally adjusted turnover and volume from the previous month of service industries, %

The data for the latest month are preliminary and are released at a delay of around six weeks. The data 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, myynti.palvelut@stat.fi

Head of Department in charge: Katri Kaaja

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Appendix table 1. Annual change in working day adjusted turnover and volume in sectors of services, % (TOL 2008) (15.11.2021)

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Revisions in these statistics (15.11.2021)

Updated 15.11.2021

Referencing instructions:

Official Statistics of Finland (OSF): Turnover of service industries [e-publication].
ISSN=1799-0998. September 2021. Helsinki: Statistics Finland [referred: 21.11.2024].
Access method: http://www.stat.fi/til/plv/2021/09/plv_2021_09_2021-11-15_tie_001_en.html