MIL OSI Translation. Region: Germany / Deutschland –
Source: Destatis Federal Statistical Office
Press release No. 525 from December 21, 2020
Producer prices for services, 3rd quarter 2020: +1.8% compared to the same quarter of the previous year + 0.2% compared to the previous quarter
WIESBADEN – The Producer prices for services in Germany were 1.8% higher in the 3rd quarter of 2020 than in the 3rd quarter of 2019. As the Federal Statistical Office (Destatis) also reports, the changes compared to the 2nd quarter of 2020 fell with an average increase of 0.2 % rather low.
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In the transport and storage sector, producer prices rose the most in the 3rd quarter of 2020 compared to the 3rd quarter of 2019, at 2.5%
In the aviation sector, the effects of the corona crisis can still be felt with a price increase of 6.6% compared to the third quarter of 2019. After prices rose sharply in the second quarter as a result of the global restrictions caused by the pandemic (13.5% compared to the 2nd quarter of 2019), they have currently recovered somewhat with a decline of 4.0% compared to the previous quarter. This is mainly due to the higher air traffic activity in the 3rd quarter of 2020 and the resulting increased cargo space. The restrictions caused by the pandemic are also having an impact in the freight forwarding sector with an increase of 3.6% compared to the third quarter of 2019. Strong price increases in air and sea freight are responsible for this. On the other hand, the areas of car forwarding and rail forwarding (as part of the freight forwarding sector) show price declines of 0.4% and 0.5% compared to the same quarter of the previous year. In the vehicle haulage business, this is mainly due to the continued low fuel costs.
In the third quarter of 2020, producer prices in the information and communication sector rose slightly by 0.5% compared to the third quarter of 2019
The prices of the individual branches of the economy in this sector were between 0.2% and 1.1% higher than in the 3rd quarter of 2019. Compared to the 2nd quarter of 2020, no or only moderate price developments were observed in the individual branches of the economy.
In the professional, scientific and technical services sector, producer prices were 2.2% higher in the 3rd quarter of 2020 than in the 3rd quarter of 2019
With an increase of 6.7% compared to the 3rd quarter of 2019, the prices of the auditing and tax consulting, bookkeeping industry were the most significantly higher than those of the 3rd quarter of 2019 July 2020 came into force.
In the administrative and support services sector, producer prices in the 3rd quarter of 2020 were 2.1% higher than in the 3rd quarter of 2019
The highest price increases compared to the 3rd quarter of 2019 were recorded in the sectors of temporary employment (+ 2.6%), guard and security services (+ 2.7%), and the sector of cleaning of buildings, roads and transport (+1.8 %). These price developments result u. a. from changed collective agreements in these sectors in the previous quarters.
The prices for the placement of workers in the 3rd quarter of 2020 were 2.0% below those of the same quarter of the previous year. In the 2nd quarter they fell by 4.7% compared to the 2nd quarter of 2019 due to sharp wage declines as a result of short-time work and shop closings. For the placement of workers, commissions are often paid that are based on the wages of the people placed. The recovery in Q3 2020 is due to the economy resuming after the end of the initial lockdown.
Producer price index for services for Germany in the 3rd quarter of 2020
Overall index / sub-index
Index2015 = 100
Change compared to the previous year period
Change compared to the previous quarter
Transportation and storage
Freight transport by rail
Freight transport by road, removal transport
Transport of people and goods in sea and coastal shipping
Other postal, courier and express services
information and communication
Publishing of software (excluding computer games)
Information technology services
Data processing, hosting and the like, web portals
Correspondence and news agencies, research services
Professional, scientific and technical services
Legal advice and notaries
Auditing and tax advice, bookkeeping
Public relations and business consulting
Architecture and engineering offices
Technical, physical and chemical investigations
Market and opinion research
Administrative and support services
Provision of labor
Private guard and security services
Cleaning of buildings, streets, means of transport
Detailed data and long time series on producer price indices for services can be found in the tables Producer prices for services (61311) can be called up in the GENESIS-Online database.
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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.