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Published: 14 April 2020

Turnover and output in services grew in February

Working day adjusted turnover in service industries grew by 1.6 per cent in February 2020 from February 2019. Service output or volume, from which the impact of prices has been eliminated, grew by 1.0 per cent over the same period. In this year’s January, turnover reached a growth of 4.9 per cent, while volume went up by 3.6 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 February 2020, the best development among the main service industries was recorded in real estate activities. The working day adjusted turnover of real estate activities grew by 4.7 per cent from February 2019. In the corresponding time, the volume of the industry was rising, growing by 2.9 per cent.

Measured by turnover adjusted for working days, information and communication and professional, scientific and technical activities reached almost equal growth in February 2020 from one year before. Growth in information and communication amounted to 4.0 per cent and working day adjusted turnover in professional, scientific and technical activities rose by 3.9 per cent. Volume was also growing strongly in both industries from February 2019. In information and communication, volume then increased by 3.9 per cent. The volume of professional, scientific and technical activities reached the fastest growth in service industries, 4.6 per cent.

Administrative and support services activities also developed better than the average turnover in service industries, as working day adjusted turnover grew by 3.5 per cent in February 2020 from one year ago. At the same time, the volume in the industry rose by only 1.7 per cent.

The working day adjusted turnover of the biggest service industry, transportation and storage activities, decreased by 1.3 per cent from February 2019. At the same time, the volume in the industry went down by 1.9 per cent.

Annual change in working day adjusted turnover and volume of service industries, February 2020, % (TOL 2008)

Turnover and output contracted from the previous month

Seasonally adjusted turnover in service industries declined in February 2020 by 1.7 per cent compared to January. The output of services, from which the impact of prices has been eliminated, fell by 0.9 per cent over the same period. In January, turnover grew by 1.5 per cent from December 2019. Similarly, the volume then went up by 1.4 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.

Source: Turnover of service industries, Statistics Finland

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

Director in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Annual change in working day adjusted turnover and volume in sectors of services, % (TOL 2008) (14.4.2020)

Figures

• Appendix figure 1. Turnover and volume of service industries, trend series (14.4.2020)
• Appendix figure 2. Turnover and volume of transportation and storage, trend series (14.4.2020)
• Appendix figure 3. Turnover and volume of information and communication, trend series (14.4.2020)
• Appendix figure 4. Turnover and volume of real estate activities, trend series (14.4.2020)
• Appendix figure 5. Turnover and volume of professional, scientific and technical activities, trend series (14.4.2020)
• Appendix figure 6. Turnover and volume of administrative and support service activities, trend series (14.4.2020)

Revisions in these statistics

• Revisions in these statistics (14.4.2020)

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Updated 14.04.2020