Published: 30 June 2020

Turnover of large enterprises grew in May from the previous month, but decreased year-on-year

According to Statistics Finland's preliminary data, the seasonally adjusted turnover of large enterprises grew by 1.1 per cent in May 2020 compared with April. In April, seasonally adjusted turnover fell by 8.4 per cent, while in March, turnover was 0.9 per cent lower than in the month before. The exceptional situation caused by coronavirus had an effect on the development of large enterprises.

Seasonally adjusted change in the turnover of large enterprises from the previous month, %

Seasonally adjusted change in the turnover of large enterprises from the previous month, %

The unadjusted turnover of large enterprises fell by 14.6 per cent in May 2020 compared with May 2019. The turnover of large enterprises decreased by 7.2 per cent in January to May from one year ago.

Annual change in the turnover of large enterprises, %

Annual change in the turnover of large enterprises, %

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 turnover estimate of large enterprises is based on a sample formed of 2,000 enterprises with the most significant turnover in manufacturing, construction, trade and other service industries. Excluded from the statistics are enterprises engaged in primary production, and bank and insurance activities.

The enterprises described in the statistics make up approximately 70 per cent of the turnover of all enterprises operating in Finland, represent more than one-half of the investments made and employ good 40 per cent of the personnel of all enterprises.

The data can be used for short-term monitoring of development in business activities and the market. The economic situation of the whole enterprise sector cannot be assessed solely based on these statistics, because the economic development of smaller enterprises may differ from large enterprises.

More detailed data on the development of various industries are published monthly on the home pages of business trend indicators.


Source: Turnover estimate of large enterprises, Statistics Finland

Inquiries: Aki Niskanen 029 551 2657, Maija Sappinen 029 551 3348, palvelut.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

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Updated 30.6.2020

Referencing instructions:

Statistics: Turnover estimate of large enterprises [e-publication].
ISSN=2342-0723. May 2020. Helsinki: Statistics Finland [referred: 4.7.2020].
Access method: http://www.stat.fi/til/slv/2020/05/slv_2020_05_2020-06-30_tie_001_en.html