In September, large Finnish companies continued to fare worse than a year ago. Their turnover decreased 6.7% compared to September 2019. And it's already 9 months in a row of year-on-year falls.
The business also fell compared to the previous month, August.
According to Statistics Finland's preliminary data, the unadjusted turnover of large enterprises fell by 6.7% in September 2020 compared with September 2019. The turnover of large enterprises decreased by 7.4% in January to September from one year ago.
The seasonally adjusted turnover of large enterprises also contracted by 0.6% in September 2020 compared with August.
In August, seasonally adjusted turnover grew by 0.6%, while in July, turnover was 0.5 per cent higher than in the month before.
70% of all enterprises turnover
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% of the personnel of all enterprises.
Statistics Finland says the data can be used for short-term monitoring of development in business activities and the market. But in order to assess the situation of the whole Finnish enterprise sector is also convenient to look at the economic development of the smaller enterprises, which may differ.