Turnover of large Finnish companies grew in August

The turnover of large Finnish companies grew slightly in August compared to the previous month. However, the results are still bad compared to the same period a year ago.

According to Statistics Finland's preliminary data, the seasonally adjusted turnover of large enterprises grew by 0.7% in August compared with July. In July, seasonally adjusted turnover grew also by 0.7%, while in June, turnover was 1.6 per cent higher than in the month before.

Year-on-year decline

But the turnover figures are still in the red when compared to the same period in 2019, before the coronavirus. The unadjusted turnover of large enterprises fell by 9.1% in compared with August 2019. The turnover of large enterprises decreased by 7.4% in January to August from one year ago.

The turnover estimate of large enterprises is based on a sample formed of 2,000 enterprises with the most significant turnover in manufacturing, construction, trade and other service industries. Excluded from the statistics are enterprises engaged in primary production, and bank and insurance activities.

The enterprises described in the statistics make up approximately 70% of the turnover of all enterprises operating in Finland, represent more than one-half of the investments made and employ good 40%t of the personnel of all enterprises.