Further decline in service sales in November 2023
Published: Thursday, Feb 1st 2024, 09:11
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Swiss service companies also reported significantly lower turnover in November 2023. However, the decline was somewhat smaller than in previous months.
Adjusted for working day effects, turnover in services fell by 9.9% in November 2023 compared to the same month in the previous year. Wholesale trade (-22.7%) was the main contributor to this development, the Federal Statistical Office (FSO) reported on Thursday.
Although the negative trend in total service sales has thus continued, it has eased somewhat. In October, the decline (rev.) was still 11.2% and in September 10.8%. The largest drop this year was recorded in August at -12.8% and the smallest in January at -1.0%.
The FSO's service turnover statistics (DLU) have been published since 2023.
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