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Published: 14 February 2020

Turnover and output in services grew in December

Working day adjusted turnover in service industries grew by 2.1 per cent in December 2019 from December 2018. Service output or volume, from which the impact of prices has been eliminated, grew by 0.8 per cent over the same period. In November 2019, turnover reached a growth of 2.2 per cent, while volume went up by 1.2 per cent from one year back. Services are here examined exclusive of trade.

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

In December 2019, the strongest development among the main service industries was recorded in accommodation and food service activities, where working day adjusted turnover increased by 6.0 per cent from December 2018. Measured by volume, the industry’s 4.5 per cent growth from December 2018 was also fastest among the service industries.

Among the main service industries, both information and communication (+3.7%) and real estate activities (+3.6%) reached an almost equally high growth measured by working day adjusted turnover. The volumes of the industries were also on the rise from December 2018: the volume of information and communication rose by 2.3 per cent and that of real estate activities by 2.8 per cent.

A more positive development of turnover than average for service industries was also recorded in administrative and support service activities, where working day adjusted turnover grew by 2.5 per cent from December 2018. The volume of the industry also reached slightly better development than average for service industries and was 0.9 per cent higher in December 2019 compared to the previous year.

The working-day adjusted turnover of the biggest service industry, transportation and storage, grew by 1.1 per cent in December 2019. However, in the corresponding time, the volume of the industry went down by 0.4 per cent. Among the main service industries, weakest development was seen in arts, entertainment and recreation, where working day adjusted turnover decreased by 2.9 per cent from December 2018.

Annual change in working day adjusted turnover and volume of service industries, December 2019, % (TOL 2008)

Turnover grew while output remained on level with the previous month

Seasonally adjusted turnover in service industries increased in December 2019 by 0.6 per cent compared to November. The output of services, from which the impact of prices has been eliminated, remained on level with November in December 2019. One month earlier, turnover decreased by 0.6 per cent from October 2019. At the same time the volume also contracted by 0.3 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.

Industries of enterprises have been revised in the data released in February

Starting from this statistical release the latest industries defined by the Business Register have been taken into use in the turnover and wage and salary indices. The industry corrections are visible as revised data in some of the published industries for the years 2018–2019. The effects of the changes are taken into consideration in statistics production so that no breaks occur in the time series of the published index series. The interpretation of the statistics also remains unchanged in the renewal. Revisions to annual changes in industries are presented under Revisions in these statistics.

Source: Turnover of service industries, Statistics Finland

Inquiries: Aki Niskanen 029 551 2657, Katja Liukkonen 029 551 3515, Tony Valve 029 551 3453, palvelut.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

Publication in pdf-format (411.1 kB)

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Appendix tables

• Appendix table 1. Annual change in working day adjusted turnover and volume in sectors of services, % (TOL 2008) (14.2.2020)

Figures

• Appendix figure 1. Turnover and volume of service industries, trend series (14.2.2020)
• Appendix figure 2. Turnover and volume of transportation and storage, trend series (14.2.2020)
• Appendix figure 3. Turnover and volume of information and communication, trend series (14.2.2020)
• Appendix figure 4. Turnover and volume of real estate activities, trend series (14.2.2020)
• Appendix figure 5. Turnover and volume of professional, scientific and technical activities, trend series (14.2.2020)
• Appendix figure 6. Turnover and volume of administrative and support service activities, trend series (14.2.2020)

Revisions in these statistics

• Revisions in these statistics (14.2.2020)

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Updated 14.02.2020