Turnover in service industries grew by 2.4 per cent in March 2024

Turnover growing in service industries

In service industries, growth in March 2024 was strongest in information and communication activities, where turnover and volume grew at the same rate, being 4.1 per cent up from March 2023. The working day adjusted turnover of other service activities grew by 3.8 per cent from March 2023. The working day adjusted turnover of real estate activities correspondingly rose by 3.7 per cent and volume by 0.8 per cent from March 2024.

The turnover of professional, scientific and technical activities increased by 3.3 per cent from March 2023, while the volume of the industry went down by 2.2 per cent. Growth in arts, entertainment and recreation was more subdued than the average development in service industries, being 0.8 per cent up in March 2024 from one year ago. Working day adjusted turnover in accommodation and food service activities was 0.3 per cent higher than in March 2023, while volume went down by 3.6 per cent.

In March 2024, working day adjusted turnover in administrative and support service activities remained on level with the previous year. At the same time, the volume of the industry fell by 3.6 per cent. Among the main service industries, the development was weakest in transportation and storage, where working day adjusted turnover fell by 2.2 per cent and volume by 1.5 per cent from March 2023.

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Turnover grew from the month before

Seasonally adjusted turnover in service industries rose by 0.8 per cent in March 2024 compared to February. Service output or volume, from which the impact of prices has been eliminated, went up by 0.5 per cent over the same period. In February 2024, turnover remained on level with January but the volume went up slightly by 0.2 per cent.

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