Finland’s service industries show signs of sectoral growth

The arts, entertainment, recreation and real estate recorded the best turnover in first quarter of 2010.

Some service industry sectors in Finland enjoyed good growth rates in the first quarter of 2010, according to the latest figures from Statistics Finland. Turnover grew fastest in the arts, entertainment and recreation industry, increasing by 7.3% from the same period last year. Turnover in real estate activities was 3.1% higher compared to the first quarter of 2009 and good growth was also recorded in other service activities where turnover was up by 3.7%.

The total turnover generated by service industries contracted by 0.4% in the first quarter of 2010 when compared with the respective period one year previously. A year ago the total turnover in the service industries decreased by 3.7%.

Among the service industries, turnover fell the most in professional, scientific and technical activities. In the January to March period they generated 4.5% less turnover than twelve months earlier. In accommodation and food service activities turnover dropped by 1.7% and in information and communication by 1.0% from the January to March period of 2009. The decline of turnover slowed down further in transportation and storage, where the year-on-year contraction in the examined period now only amounted to 0.9%.

Source: Statistics Finland