December 9, 2022
In the third quarter of 2022, Austrian service enterprises increased their turnover by 9.2 % in nominal terms, according to Statistics Austria. Trade turned over 11.8 % more than in the same period of the previous year in nominal terms. Adjusted for inflation (real), however, this corresponds to a minus of 2.2 %.
The significant increase in turnover of Austrian service providers in the third quarter of 2022 is mainly due to the transportation and storage sector with a rise of 17.7 % and administrative and support service activities with an increase in turnover of 11.2 % compared with the same quarter of the previous year.
Trade turned over more than in the third quarter of the previous year (+11.8 % in nominal terms). In real terms, however, the decline was 2.2 %. Retail trade was up by 8.1 %, which corresponds to a price-adjusted (real) decline in sales of 2.0 %. While retail trade with food was positive in price-adjusted terms at +11.3 % (nominal) and +1.2 % (real), retail trade with non-food grew in nominal terms by 3.8 % year-onyear, corresponding to a decrease of 3.2 % in sales.
Employment (no conclusion on full-time equivalents possible) developed positively in the third quarter 2022: In the service sector, employment was 3.8 % significantly higher than in the third quarter 2021, in trade, the increase was lower at +0.6 %.
January to September 2022: Service enterprises generate 21.8 % increase in turnover From January to September 2022, Austrian service enterprisesrecorded a 21.8 % increase in turnover compared to the same period last year. This result is mainly due to the 67.6 % increase in turnover in the accommodation and food service sector, which was particularly affected by the pandemic-related restrictions in the previous year.
Trade showed a nominal increase in turnover of 12.6 %; adjusted for inflation (in real terms), this results in a minus of 0.9 %. In the period from January to September 2022, wholesalers recorded the largest turnover growth in the trade sector – mainly due to the sharp rise in prices – with an increase of 19.6 % in turnover and 2.2 % in sales. The retail trade also reported growth of 7.9 % in turnover; adjusted for inflation, this represents a decrease of 0.6 %. In line with the drop in the number of new registrations, the trade of motor vehicles reported a 3.8 % decline in turnover and a 12.3 % drop in sales.
Employment in service companies rose by 7.4 %, in the trade sector it increased by 1.7 % compared with the period from January to September 2021.
Source: Statistics Austria
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