Wednesday 9/23/20
BUSINESS

Turnover and output fell in most service industries

The working day adjusted turnover of the biggest service industry, transportation and storage activities, decreased by 25% from July 2019.

Turnover and output fell in most service industries

The exceptional situation caused by the coronavirus recession had a negative effect on the service industries.

According to Statistics Finland's figures, working day adjusted turnover in service industries fell by 11.5% in July 2020 from July 2019.

Service output or volume, from which the impact of prices has been eliminated, fell by 8.9% over the same period.

Services are here examined exclusive of trade.

Annual-change-service-turnover-July-2020

By industry

In July 2020, development was weakest among the main service industries in arts, entertainment and recreation, where working day adjusted turnover fell by 25.2% from the same period of the year before.

The working day adjusted turnover of the biggest service industry, transportation and storage activities, decreased by 25% from July 2019. At the same time, the volume of the industry fell by 21.9%.

Turnover also fell in accommodation and food service activities, where it decreased by 18.3% year-on-year, while the volume was down by 17.8% over the same period. Turnover fell in administrative and support service activities by 13%.

Service-industries-output-turnover-by-industry-July-2020

Among the main service industries, other service activities (-4.9%) and professional, scientific and technical activities (-2.7%) also declined. Respectively, the volume of professional, scientific and technical activities was 1% lower than in July last year.

In July 2020, the turnover of information and communication activities settled at the same level year-on-year. The working day adjusted turnover of real estate activities went up by 2.2% from July 2019 while the volume of the industry grew by 1.1%.

From the previous month

Seasonally adjusted turnover in service industries increased in July 2020 by 1.9% compared to June.

The output of services, from which the impact of prices has been eliminated, grew by 1.6% over the same period.

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