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Turnover in service industries grew in Finland

18/03/2009

Service industries generated 4.8 per cent more turnover in the 2008 October to December period than in the respective time period of the year before.

In the previous three-month period that ended in September their turnover increased by 8.1 per cent. Services are here examined exclusive of trade and the data have been adjusted for working days by eliminating effects of calendar variations from them.


Among the main service industries, turnover grew fastest in real estate, renting and business activities where it was up by 7.8 per cent on the corresponding time period of the previous year. In hotel and restaurant activities, turnover increased by 4.5 per cent in the latest three-month period. The growth of turnover in transport, storage and communication activities amounted to 1.4 per cent in the October to December period. In other community, social and personal service activities turnover went up by 7.6 per cent.

The economic downturn can be seen towards the end of 2008. In December, growth in the combined turnover of service industries was some three per cent from December 2007. The growth of turnover in hotel and restaurant activities slowed down to just under two per cent. Turnover of transport, storage and communications continued to decrease, as it did in November. 

 

Source: Statistics Finland

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