Service sales continue to decline in December 2023
Published: Friday, Mar 1st 2024, 09:00
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Swiss service companies also recorded a decline in turnover in December. However, the pace has once again slowed somewhat.
Adjusted for working day effects, turnover in services fell by 6.3% in December 2023 compared to the same month in the previous year. The Federal Statistical Office (FSO) reported on Friday that wholesale trade (-13.0%) was once again the main contributor to this development.
Although the negative trend in overall service sales is thus continuing, it is also continuing to ease. In November, the decline was 9.9%, in October 11.2% and in September 10.8%. The largest drop this year was recorded in August at -12.8%, the smallest in January at -1.0%.
In addition to trade, the "transportation and storage" sector also recorded a decline in turnover (-9.0%). In contrast, turnover in the "hospitality/hotel and catering" sector increased by 9.1% compared to the same period last year. The "information and communication" sector also reported a positive result of +11.7%. The "real estate and housing" sector (+11.8%) and the "provision of professional, scientific and technical services" sector (+12.8%) also reported rising turnover figures.
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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