Turnover continued to decline in industry, after a year they increased again in selected market services

In January, turnover rose in 3 out of 5 monitored sectors of the economy, most significantly in information and communication. After twelve months of negative values, turnover of selected market services recorded a growth of over 5%. In addition to industry, the decrease in turnover also continued in construction.

Industry, as the largest sector of the economy, recorded a year-on-year decrease in turnover of 4.8% in constant prices in January 2024, remaining in negative values for the third consecutive month. Among the 16 industrial sectors¹⁾, up to 10 of them recorded a fall in turnover.

The Statistical Office of the SR would like to inform that since the publication of the data for January 2024, all absolute values and values of year-on-year and month-on-month indices for monitored period have been re-calculated due to methodological adjustments – transition to a new base period (from 2015 to 2021) and application of the concept of kind-of-activity units of enterprises²⁾ (PDF - 153 kB). The change relates to all monthly indicators of sectoral statistics.

In January, turnover in selected market services rose year-on-year by 5.8%, which means that after a year of declines, they reached positive values for the first time in January 2024. Transportation and storage companies also started the new year with a year-on-year increase in turnover of 1.1%, rising after two previous months of decreases.

In January, construction companies continued the four-month trend of decreases and the value of their turnover declined year-on-year by 3.7%.

At the beginning of 2024, turnover in information and communication increased year-on-year by 8.3% and slightly slowed down the dynamics of their growths. However, this is the only sector that reported long-term positive values in turnover.

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Development in January 2024 compared to December 2023

After adjusting for seasonal effects, in the first month of the year, turnover rose month-on-month in 4 out of 5 monitored sectors of the economy, most significantly in construction by 3.6%. In information and communication, it increased by 1.2%, in selected market services by 0.3% and in transportation and storage by 0.2%. Turnover declined month-on-month only in industry, by 3.6%.