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Published: 14 October 2020

Turnover and sales volume in trade grew in August

According to Statistics Finland, turnover in total trade adjusted for working days grew by 0.7 per cent in August from August 2019. Over the same period, the working day adjusted volume of sales, from which the impact of prices has been eliminated, rose by 2.4 per cent. Turnover and sales volume grew in August in all trade industries except for turnover in wholesale trade. The more favourable development in sales volume than in turnover in wholesale trade is explained by a drop in prices especially of processed petroleum products.

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

In wholesale trade, working day adjusted turnover has contracted since October 2019 and the fall was strongest in April to May 2020. In August, working day adjusted turnover in wholesale trade still decreased by 2.5 per cent, while the sales volume of the industry grew by 0.9 per cent from one year ago. In motor vehicle trade, working day adjusted turnover rose by 1.9 per cent and sales volume by 0.8 per cent in August. In retail trade, working day adjusted turnover grew by good five per cent in August. The biggest growth among retail trade industries was seen in daily consumer goods trade and department store trade. The working day adjusted turnover of daily consumer goods trade was 8.5 per cent and that of department store trade 5.2 per higher than one year earlier. The volume of sales in these industries also developed favourably. In specialised store trade, turnover grew most moderately among retail trade industries, as growth amounted to 2.8 per cent from the previous year. Due to fallen prices, the volume of sales in specialised store trade grew faster in August than turnover, in all by 4.2 per cent from the year before.

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

Turnover and sales volume remained on level with the previous month

The development of seasonally adjusted turnover in total trade compared with the previous month has been positive since the collapse in April 2020. In August, seasonally adjusted turnover in total trade increased by 0.2 per cent from July. Over the same time period, the volume of sales grew just slightly by 0.1 per cent. In July, turnover rose by 0.8 per cent and sales volume by 1.2 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: Aki Niskanen 029 551 2657, Reetta-Maria Salokannel 029 551 3657, palvelut.suhdanne@stat.fi

Head of Department 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) (14.10.2020)

Revisions in these statistics

• Revisions in these statistics (14.10.2020)

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Updated 14.10.2020