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Services turnover in November 2023 Turnover in the Swiss services sector declined by 9.9% in November

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Swiss services sector recorded a decline of 8.0% in March 2024

01.02.2024 - Services turnover adjusted for working days fell by 9.9% in November 2023 compared with the same month last year. Wholesale trade was the main contributor to this trend. These are provisional findings from the Federal Statistical Office (FSO).

The economic sector "Wholesale and retail trade" recorded a decline in turnover of 15.3% in November 2023 compared to the same month of the previous year. In contrast, the economic sector "Transportation and storage" saw only a slight reduction in turnover (-0.1%). In the economic sector "Accommodation and food service activities" (+0.5%), the figures went up in November 2023 compared with November 2022, while the "Information and communication" sector reported a decline of 1.3%. The economic sector "Real estate activities" showed decreasing turnover figures (-0.3%), while the sector "Professional, scientific and technical activities" achieved an increase in turnover of 4.7%. Finally, the economic section "Administrative and support service activities" (-3.9%) suffered losses, while the "Travel agency, tour operator reservation service and related activities" sector, following strong growth in the previous months, registered a moderate increase (+8.5%).

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