According to Statistics Finland, the working day adjusted turnover in total trade grew by 0.2% in March 2023 from one year ago. However, the working day adjusted volume of sales in total trade decreased by 3.8%, as the rise in prices reduced the volume of sales in trade in March compared to a year ago. The turnover increased in all the largest industries apart from wholesale trade, where the working day adjusted turnover decreased by 3.2% and sales volume by 5.2% year-on-year.
The motor vehicle trade industry had the biggest turnover, and its working day adjusted turnover increased by 8.6% and sales volume by 3.4% in March from one year back. In retail trade, working day adjusted turnover grew by 3.3% in March, but sales volume decreased by 4.4%.
The turnover of daily consumer goods trade increased by 6.6% from one year back, while the volume of sales decreased by 4.7%. The turnover of department store trade grew by 5.7%, but the volume of sales went down by 4.6% year-on-year. In specialised store trade, turnover increased by 0.1%, and the volume of sales decreased by 5.8%.
Overall, the seasonally adjusted turnover in total trade decreased in March by 0.4% compared to February, while seasonally adjusted sales volume went up by 0.3%. In February, seasonally adjusted turnover decreased by 0.9%, and sales volume by 1.8% compared to the month before.
It is worth noting that historically, growth has not been this slow since the end of 2020. The decrease in the volume of sales may be attributed to the rise in prices, which could affect consumer demand and buying patterns.