Lockdown 2021: Revenue slump of 24 percent for service providers

 

According to Statistics Austria, in the first three months of 2021, service companies posted a nominal 24.0 percent decline compared to the same period of the previous year, posting the largest decline in sales since the start of the time series in 2003. […]

“The corona-related plant closures in the 1st quarter of 2021 hit the Austrian service providers hard. By far the biggest drop in sales compared to the same quarter of the previous year was recorded in the Accommodation and Catering division, which recorded a decline of 78.9 percent. This also has a strong impact on the economic performance of Austria as a whole, because in this country the share of accommodation and gastronomy in the value added weighs more than three times as much as in Germany, for example,“ says Statistics Austria Director General Tobias Thomas. Revenues were the lowest in information and communication (-0.4 percent) and in professional, scientific and technical services (-1.7 percent).

In the first quarter of 2021, Austrian trade generated a nominal increase in sales of 3.5 percent, which resulted in a 1.0 percent increase in sales volume compared to the same quarter of the previous year.

Strongly increased sales compared to the first quarter of 2020, the motor trade recorded-analogous to the increased registration figures – with +17.6 percent in nominal terms and +15.7 percent in real terms (price adjusted), the retail trade also recorded a positive balance with +2.2 percent in nominal terms and +2.0 percent in real terms. By contrast, the service-oriented wholesale sector, with an increase in sales volume of 1.1 percent, had to accept a decrease in sales volume of 3.0 percent.

Employment relationships (no conclusion on full-time equivalents possible) also developed negatively in the first quarter of 2021. Among service companies, employment was 7.6 percent lower than in the first quarter of 2020. Trade recorded a smaller decline of -1.1 percent compared to the same period last year.

Services 1st quarter 2021, unadjusted

Selected industries with a change in sales compared to the same period of the previous year in percent (nominal):

  • Accommodation and gastronomy: -78,9
  • Services: -24.0
  • Transport and storage: -16.8
  • Other economic services: -16.3
  • Professional, scientific. and techn. Services: -1.7
  • Information and communication: -0.4

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