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Latest publication: Turnover of service industries 2019, September

Published: 15 October 2019

Turnover and output in services grew in August

Working day adjusted turnover in service industries grew by 4.5 per cent in August 2019 from August 2018. Service output or volume, from which the impact of prices has been eliminated, grew by 3.1 per cent over the same period. In this year's July, turnover reached a growth of 5.9 per cent, while volume went up by 4.6 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, %

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

In August 2019, the strongest growth among the main service industries was recorded in administrative and support service activities, where turnover adjusted for working days grew by 6.7 per cent from August 2018. The development of the volume of the industry was also fastest among the service industries, reaching a 6.4 per cent growth from the year before. Among the main service industries, the turnover of other service activities also developed strongly in August 2019 from the year before, going up by 6.2 per cent.

Working day adjusted turnover in information and communication grew by 5.7 per cent in August 2019 from August 2018. Over the same period, the volume of the industry increased by 4.6 per cent. Of the main service industries, arts, entertainment and recreation and professional, scientific and technical activities both increased their turnover by 5.4 per cent from the year before. The volume of professional, scientific and technical activities (+3.1%) also increased over the same period.

In the biggest service industry measured by turnover, that is, transportation and storage activities, turnover grew by 2.5 per cent in August 2019. Thus, the development of the working day adjusted turnover of the industry was clearly weaker than average for service industries, while the volume remained on level with August 2018.

The development of turnover was weakest in accommodation and food service activities, where working day adjusted turnover still increased by 2.4 per cent from August 2018. The volume of the industry increased by 1.3 per cent over the same period.

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

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

Turnover and output contracted from the previous month

Seasonally adjusted turnover in service industries declined in August 2019 by 0.5 per cent compared to July. The output of services, from which the impact of prices has been eliminated, fell by 0.3 per cent over the same period. One month earlier, turnover grew by 1.4 per cent from June 2019. At that time, the volume also grew by 1.3 per cent.

Change in seasonally adjusted turnover and volume from the previous month of service industries , %

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, Katja Liukkonen 029 551 3515, Tony Valve 029 551 3453, palvelut.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

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Updated 15.10.2019

Referencing instructions:

Official Statistics of Finland (OSF): Turnover of service industries [e-publication].
ISSN=1799-0998. August 2019. Helsinki: Statistics Finland [referred: 19.11.2019].
Access method: http://www.stat.fi/til/plv/2019/08/plv_2019_08_2019-10-15_tie_001_en.html