Turnover in service industries grew by 11.1 per cent and volume by 3.2 per cent in November 2022

Turnover growing in main service industries

Among the main service industries, turnover grew most in accommodation and food service activities in November 2022. Working day adjusted turnover in the industry rose by 15.6 per cent from October one year ago while volume grew by 6.7 per cent over the same period. In transportation and storage, working day adjusted turnover grew by 14.0 per cent from October 2021 and volume was falling by 9.2 per cent over the same period. The volume development of transport and storage is influenced by a sharp upturn in prices in the industry during 2022.

Administrative and support service activities and other service activities also reached stronger development than turnover in the whole service industry. In administrative and support services, turnover adjusted for working days reached a 12.9 per cent rise from November 2021, while volume went up by 7.0 per cent over the same period. In November 2022, working day adjusted turnover in other service activities increased by 12.1 per cent year-on-year.

Development was also favourable in professional, scientific and technical activities. The working day adjusted turnover of the industry grew by 9.5 per cent and volume by 7.0 per cent from November 2021. Turnover adjusted for working days in arts, entertainment and recreation grew by 9.2 per cent in November 2022 from the year before.

In information and communication activities, working day adjusted turnover grew by 9.1 per cent in November 2022 while the volume of the industry grew by 7.3 per cent over the same period. The working day adjusted turnover of real estate activities rose by 7.5 per cent and volume by 5.6 from November 2021.

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Turnover and output grew from the previous month

Seasonally adjusted turnover in service industries rose by 0.5 per cent in November 2022 compared to October. Service output or volume, from which the impact of prices has been eliminated, rose by 0.4 per cent over the same period. In October 2022, turnover rose by 0.3 per cent from September. At the same time, volume fell by 0.2 per cent.

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