Service sales continue to decline in September
Published: Friday, Dec 1st 2023, 09:10
Updated At: Friday, Dec 1st 2023, 09:10
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In September, Swiss service companies again reported significantly lower turnover than in the same month last year. Adjusted for working day effects, service turnover fell by 11.0%, as reported by the Federal Statistical Office (FSO) on Friday.
The negative trend has thus continued. In August, the decline amounted to 12.6% and in July to 9.6%. In the two previous months, the figures were -10.0% and -7.0% respectively.
According to the provisional results, wholesale continued to play a decisive role in the downward trend. Wholesale turnover fell by 18.4 percent in September compared to the same month last year, while the "transportation and storage" sector only recorded a slight drop of 0.9 percent.
Gastronomy and travel agencies successful
The gastronomy, communication and travel sectors performed better than in the same period last year. The "hospitality/accommodation and gastronomy" sector grew by 10.9% in September 2023, while the "information and communication" sector reported a 7.8% increase in turnover.
Turnover in the "provision of other business services" economic sector also increased (+5.4%), driven by the "travel agencies, tour operators and provision of other reservation services" sector (+21.5%).
The FSO's service turnover statistics (DLU) are monthly economic statistics that describe the development of turnover in the service sector. It has only been published since this year.
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