In August, the turnover of Finnish large companies stopped growing and contracted.
According to Statistics Finland's preliminary data, the seasonally adjusted turnover of large enterprises contracted by 0.1% in August compared with July. In July, seasonally adjusted turnover grew by 0.3%, while in June turnover was 0.4% higher than in the month before.
The unadjusted turnover of large enterprises also fell by 0.3% in August compared with August 2018. The turnover of large enterprises grew by 2.6 per cent in January to August from one year ago.
The turnover estimate of large enterprises is based on a sample formed of 2,000 companies 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% of the turnover of all enterprises operating in Finland, represent more than one-half of the investments made and employ good 40% of the personnel of all enterprises.
The data can be used for short-term monitoring of development in business activities and the market.
However, 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, explained Statistics Finland.