Service sales up again in August
Published: Friday, Nov 1st 2024, 09:50
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Swiss service companies increased their turnover slightly again in August. This broke the downward trend that had been in place for a year and a half.
Adjusted for working day effects, turnover in services rose by 0.8% in August compared to the same month last year, as reported by the Federal Statistical Office (FSO) on Friday based on provisional results. In July, the revised decline was still 1.0%.
This makes August the first month in a year and a half with rising sales. However, the trend reversal had already become apparent. The decline had already slowed considerably in the two previous months. The negative peak was in August 2023 (-13.6%).
Rising sales were achieved in August, for example, in the "Hotels and restaurants" economic sector. Growth here amounted to 2.6%. The "information and communication" sector also reported a positive result (+4.5%), with the "information services" sector contributing to this result with a high growth rate of 21.4%.
The "real estate and housing" sector (+10.4%) and the "provision of professional, scientific and technical services" sector (+7.6%) also recorded rising turnover. Within the latter, turnover in the sectors "Architectural and engineering activities" (+13.7%) and "Management consultancy" (+11.1%) increased the most.
By contrast, sales in August were down in "Trade" (-1.3%) and in "Transport and storage" (-3.2%).
The FSO's service turnover statistics are monthly economic statistics that describe turnover trends in the service sector. It has been published since 2023.
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