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Turnover in service industries grew by 1.6 per cent in November 2023

release 15/01/2024 | Turnover of service industries 2023, November

According to Statistics Finland, working day adjusted turnover in service industries grew by 1.6 per cent in November 2023 from November 2022. Service output or volume, from which the impact of prices has been eliminated, fell by 0.3 per cent over the same period. In October 2023, turnover grew by 1.5 per cent and volume fell by 0.7 per cent. Services are here examined exclusive of trade.

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The main service industries increased their turnover in November 2023 except for transportation and storage.
Volume was falling in several main service industries.

Turnover growing in service industries

Among the service industries, growth in November 2023 was strongest in real estate activities, where working day adjusted turnover rose by 8.2 per cent from November 2022. At the same time, growth in the volume of the industry was also fastest among service industries, up by 4.7 per cent. Turnover in other service activities grew by 4.8 per cent in November 2023. Working day adjusted turnover in accommodation and food service activities was 3.8 per cent higher than in November 2022, while volume went down by 1.4 per cent.

Working day adjusted turnover in professional, scientific and technical activities went up by 3.4 per cent from November 2022. At the same time, the volume of the industry decreased by 0.5 per cent. Working day adjusted turnover in information and communication activities rose by 2.5 per cent in November 2023 from one year back. At the same time, the volume of the industry grew by 0.5 per cent.

In arts, entertainment and recreation, the growth of 1.6 per cent in working day adjusted turnover remained on level with the average development in the turnover of service industries. Working day adjusted turnover in administrative and support service activities grew by 1.2 per cent, while volume fell by 3.3 per cent from November 2022. Among the main service industries, the development was weakest in transportation and storage, where working day adjusted turnover fell by 4.2 per cent from November 2022. At the same time, the volume of the industry decreased by 2.4 per cent.

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Turnover and output grew from the previous month

Seasonally adjusted turnover in service industries rose by 0.3 per cent in November 2023 compared to October. Service output or volume, from which the impact of prices has been eliminated, also rose by 0.3 per cent over the same period. In October 2023, turnover grew by 0.7 per cent and volume by 0.1 per cent from September 2023.

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