Turnover in service industries fell by 0.6 per cent in January 2024

Volume falling in service industries

In service industries, growth in January 2024 was strongest in other service activities, where turnover increased by 2.9 per cent from January 2023. Working day adjusted turnover in accommodation and food service activities was 2.0 per cent higher than in January 2023, while volume went down by 1.3 per cent. Working day adjusted turnover in information and communication activities rose by 1.9 per cent in January 2024 from one year back. At the same time, the volume of the industry fell by 0.9 per cent.

The working day adjusted turnover of real estate activities rose by 1.7 per cent and volume fell by 1.1 per cent from January 2023. In the industry of arts, entertainment and recreation, working day adjusted turnover grew by 0.6 per cent from January 2023. Working day adjusted turnover in administrative and support service activities fell by 0.3 per cent in January 2024 from one year back. At the same time, the volume of the industry decreased strongly by 8.3 per cent.

Working day adjusted turnover in professional, scientific and technical activities fell by 0.7 per cent and volume by 4.2 per cent from January 2023. Among the main service industries, the development was weakest in January 2024 in transportation and storage, where working day adjusted turnover fell by 4.6 per cent and volume by 4.2 per cent.

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Turnover grew and output fell from the previous month

Seasonally adjusted turnover in services rose by 0.8 per cent in January 2024 compared to December. Service output or volume, from which the impact of prices has been eliminated, fell by 0.2 per cent over the same period. In December 2023, turnover rose by 1.1 per cent and volume by 0.6 per cent from November.

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