Turnover index for transport, tourism and ICT, Q3 2008, preliminary figures

The third quarter covers the period between July and September and does not reflect the recent turbulence in the world economy. However, these figures indicate that the continued growth experienced in the transport business over the last few years is now decreasing in strength. For instance, turnover for the group Other land transport (which includes industries like taxi operation and freight transport by road) increased by 12.7 per cent between the third quarter of 2007 and the third quarter of 2008. However, when this figure is compared to our Price index for freight transport by road , which shows that prices increased by 9.0 per cent over the same period, it would seem that the growth in turnover is more the result of a price hike than an increase in the volume of goods transported.

Turnover also increased in the division Supporting and auxiliary transport activities and activities of travel agencies . This industry, which in total grew by 6.1 per cent in the third quarter, consists of various transport-related services like freight forwarding services, storage and warehousing, and the procurement of goods and transportation.

Both transport by sea and air experienced a growth in turnover. Water transport increased by 11.5 per cent between the third quarters of 2007 and 2008, while the corresponding rise for air transport was 14.8 per cent. The latter figure is explained by a strong growth in scheduled air transport.

Reduced growth for hotels

After posting strong figures in 2007, establishments offering accommodation are now experiencing a reduction in turnover growth. This trend is most evident for hotels: while their annual growth between 2006 and 2007 was a healthy 15.3 per cent, turnover from the third quarter of 2007 to the third quarter of 2008 increased by only 2.4 per cent. This downward trend is also confirmed by our Accommodation statistics , which reveals a reduction in the number of guest nights in Norwegian hotels in 2008. In contrast, the growth in turnover for restaurants, bars, canteens and catering is still strong. For instance, restaurants increased their turnover by 7.0 per cent in the third quarter of 2008.

Weaker figures also for post and telecommunications

Businesses in Post and telecommunications experienced a reduction in turnover growth. Turnover grew by a modest 2.2 per cent for post and courier activities between the third quarters of 2007 and 2008, while the corresponding increase for telecommunications was 3.6 per cent. Finally, turnover for the group Radio and television activities grew by 19.3 per cent in the third quarter, mainly due to a restructuring in licence fee payments from 2007 to 2008.

Tables:

• Table 1 Turnover index. Transport and tourism. Value index. 2005=100