Services sales fall again in July
Published: Tuesday, Oct 1st 2024, 09:20
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Swiss service companies again reported lower turnover in July. Compared to the previous month, the decline has also accelerated again.
Adjusted for working day effects, turnover in services fell by 1.6% in July compared to the same month last year, as reported by the Federal Statistical Office (FSO) on Tuesday on the basis of provisional results. In June, the revised decline had amounted to 0.8%.
The decline is stronger than in June. In the months before that, however, sales had fallen even more sharply, peaking in August 2023 (-13.6%).
According to the FSO, the drop in July is mainly due to the decline in the "trade" sector. This economic sector recorded a 3.7% drop in turnover compared to the same month last year.
In addition, turnover in the "transportation and storage" sector fell by 0.7%. In the "Hotels and restaurants" sector, the figures fell by 1.4%. The "provision of other business services" sector also suffered losses of 3.7 percent.
Plus in the area of "Information and communication"
Meanwhile, the "information and communication" sector recorded rising turnover, with the FSO reporting an increase of 3.9%. The "Real estate and housing" sector (+2.9%) and the "Provision of professional, scientific and technical services" sector (+6.4%) also reported rising turnover figures. Here, the subgroup "Architectural and engineering firms, technical, physical and chemical testing" once again stood out particularly positively with an increase of 15.2%.
The FSO's service turnover statistics (DLU) are monthly economic statistics that describe the development of turnover in the service sector. It has been published since 2023.
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