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Published: 15 July 2020

Turnover and sales volume in trade fell in May

According to Statistics Finland, turnover in total trade adjusted for working days fell in May by 5.0 per cent from May 2019. Over the same period, the working day adjusted volume of sales, from which the impact of prices has been eliminated, decreased by 1.8 per cent. The upturn in retail trade stimulated the development of both turnover and sales volume in May. Turnover and sales volume in wholesale and motor vehicle trade were still falling in May. The exceptional situation caused by coronavirus had an effect on the development of trade industries.

Annual change in working day adjusted turnover and sales volume in total trade (G), %

Turnover adjusted for working days decreased by 8.6 per cent in wholesale trade in May, while at the same time the sales volume only declined by 2.9 per cent. As in April, trade developed weakest in May in motor vehicle trade, where turnover adjusted for working days went down by 16.5 per cent and sales volume by 17.4 per cent year-on-year. In contrast, working day adjusted turnover in retail trade increased by 6.0 per cent and sales volume by 6.4 per cent. The growth in retail trade was due to positive development in daily consumer goods trade and department store trade, while turnover still contracted in specialised store trade. In daily consumer goods trade, working day adjusted turnover grew by as much as 11.5 per cent and sales volume by 9.6 per cent. In May, turnover in department store trade grew by 6.0 per cent, while turnover in specialised store trade contracted by 3.6 per cent over the same period. The working day adjusted development of trade was strengthened by May Day falling on a Friday and the number of weekends in May 2020 compared to May 2019.

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

Turnover and sales volume grew month-on-month

Seasonally adjusted turnover in total trade grew by 2.3 per cent in May compared to April. Sales volume grew by 1.1 per cent during the same period. In April, turnover fell by 7.2 per cent and sales volume by 2.6 per cent from the month before.

Change in seasonally adjusted turnover and sales volume in total trade (G) from the previous month, %

Trend of turnover and sales volume in total trade

The calculation of indices of turnover of trade is based on the Tax Administration’s data on self-assessed taxes, which are supplemented with Statistics Finland’s sales inquiry. The volume index of sales is calculated by removing the effect of price changes from the value index series.

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.

The data for the latest month are preliminary and they may become significantly revised particularly on more detailed industry levels in coming months.

Source: Turnover of trade, Statistics Finland

Inquiries: Suvi Kiema 029 551 3509, palvelut.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Annual change of working day adjusted turnover and sales volume in industries of trade, % (TOL 2008) (15.7.2020)

Revisions in these statistics

• Revisions in these statistics (15.7.2020)

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Updated 15.07.2020