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Turnover in service industries grew by 2.9 per cent in December 2023

release 14/02/2024 | Turnover of service industries 2023, December

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The latest industries defined by the Business Register will be adopted in the statistics in February 2024. 

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Working day adjusted turnover and volume in the main service industries increased in December 2023.
Turnover was falling in the main industries of transportation and storage, and arts, entertainment and recreation.
Volume was falling in several main industries of services.

Turnover growing in service industries

In service industries, growth in December 2023 was strongest in other service activities, where turnover grew by 7.0 per cent from December 2022. The working day adjusted turnover of real estate activities rose by 5.1 per cent from December 2022. At the same time, the volume of the industry grew by 1.4 per cent. Turnover in professional, scientific and technical activities went up by 4.9 per cent from December 2022. At the same time, the volume of the industry fell by 1.4 per cent.

Working day adjusted turnover in information and communication activities rose by 4.2 per cent in December 2023 from one year back. At the same time, growth in the volume of the industry was fastest among service industries, up by 2.3 per cent. Working day adjusted turnover in accommodation and food service activities was 3.8 per cent higher than in December 2022, while volume went down by 1.5 per cent. Administrative and support service activities developed more weakly than average in service industries as working day adjusted turnover in the industry was up by 2.3 per cent from December 2022. At the same time, the volume of the industry fell by 1.9 per cent.

Working day adjusted turnover in arts, entertainment and recreation fell by 0.9 per cent in December 2023 from one year back. Among the main service industries, the development was weakest in transportation and storage, where working day adjusted turnover fell by 3.8 per cent from December 2022. At the same time, the volume of the industry decreased by 2.2 per cent.

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Turnover and output grew from the previous month

Seasonally adjusted turnover in service industries rose by 2.0 per cent in December 2023 compared to November. Service output or volume, from which the impact of prices has been eliminated, rose by 1.5 per cent over the same period. In November 2023, turnover rose by 0.6 per cent and volume 0.5 per cent from October.

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