Germany’s service sector (excluding financial and insurance services) generated a calendar- and seasonally adjusted real (price-adjusted) 0.3% less and nominal (unadjusted for price) 0.4% more turnover in October 2024 compared to the previous month September 2024.
Compared to the same month in the previous year, October 2023, the calendar- and seasonally adjusted turnover showed a real increase of 0.5% and a nominal increase of 4.4%, the Federal Statistical Office (Destatis) reported on Friday.
The real turnover growth in October 2024 compared to the previous month was highest in the real estate and construction sector with a growth of 4.0%, followed by the freelance, scientific and technical services sector with a growth of 1.5%. The information and communication sector recorded a moderate real growth of 0.2%. In contrast, the real turnover in the sector of provision of other economic services (such as leasing of movable assets and labor mediation) and in the sector of transport and warehousing decreased by 1.5% and 2.2%, respectively, according to Destatis.