Turnover index for transport, tourism and ICT, Q4 2008, preliminary figures

Our figures indicate that restaurants and bars are now affected by the financial crisis. After a sustained period of strong growth, restaurants increased their turnover by only 1.5 per cent between the fourth quarters of 2007 and 2008. This downward trend is also apparent for bars, where turnover in the same period grew by a modest 0.9 per cent.

Difficult times for land transport

A number of transport-related industries also seem to be impacted by the recession. For instance, turnover for cargo handling and storage decreased by 3.6 per cent from the fourth quarter of 2007 to the fourth quarter of 2008. In addition, the group Other land transport (which includes industries like taxi operation and freight transport by road) experienced a turnover growth of 3.6 per cent in the fourth quarter, considerably lower than witnessed in previous quarters.

Steady growth for telecommunications

Turnover for establishments in telecommunications increased by 3.9 per cent between the fourth quarter of 2007 and the corresponding quarter in 2008. This growth can likely be attributed to an increase in volume, as the prices of services provided by this industry decreased in 2008 (see our Price index for telecommunication services ).

Strong annual figures

2008 was overall a very good year for establishments in transport, storage and communication, as evidenced by an annual growth in turnover of 7.1 per cent from 2007. The tourism sector also reported solid figures in 2008, including an increase in turnover of 5.1 per cent for hotels. This growth in turnover is primarily due to an increase in price, as the number of guest nights in Norwegian hotels decreased from 2007 to 2008 (see our Accommodation statistics ).

Tables:

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