Business services monitor: fourth quarter 2010

In the fourth quarter of 2010 turnover in business services was slightly higher than in the same period a year earlier. Again business service companies were positive about the current economic climate. They expect turnover to increase further and prices to rise in the first quarter of 2011.

Modest turnover growth in business services

In the fourth quarter of 2010, turnover in business services was nearly 1 percent higher than twelve months previously. It was the first turnover growth in business services since the second quarter of 2009. Technical testing showed the highest growth rate. Again, turnover of architects decreased by most: their turnover was nearly 12 percent lower than in the fourth quarter of 2009.

For 2010 as a whole, business services experienced a turnover decrease of well over 2.5 percent. Architects suffered the greatest loss of all business services in the survey.

Year-on-year turnover changes

Positive opinions about the economic climate

The Business Sentiment Survey of January 2011 shows that companies providing business services still were positive about the current economic climate. Opinions had dropped to a low in 2009, when a net 60 percent of the companies were negative. Opinions have improved consistently ever since, and in the second quarter of 2010 the positive opinions gained the upper hand.

Opinions on the economic climate

More turnover and higher prices expected

The entrepreneurs expect turnover to rise in the first quarter of 2011. They also foresee higher prices in their branch. A net three out of ten companies expect prices to rise. Furthermore, the workforce in business services is expected to remain about the same.

Expectations for the first quarter of 2011