A report published by the Czech Statistical Office (CZSO) on Tuesday revealed that service revenues in the Czech Republic fell by 3.5% in Q2 of 2021 compared to the same period last year. This was mainly due to declines in transportation and storage, while revenue in accommodation, food, drink, and scientific and technical activities increased. Services were already weakened in the first quarter, where revised data showed a drop of 0.3% compared to the previous year.
Six of the leading service sectors saw revenue declines in four during Q2. The most significant decline affected transportation and storage; revenues fell by 11.3%. In this sector, storage and related activities in transportation weakened by 16%, land, and pipeline transport fell by 9.7%, and postal and courier activities fell by 3.4%. In contrast, revenues in air transport increased by 10.3%.
In information and communication activities, revenues fell by 1.6%. The most significant drop was experienced in the film and music industry, which earned 12% less than last year, and publishing activities weakened by 5.7%. In real estate activities, revenues fell by 2% YoY.
In administrative and support activities, revenues fell by 0.8%. Employment agencies experienced the biggest decline in this area, down 13.3%, while travel agencies, offices, and other booking-related activities saw increased revenues of 16.2%.
Revenue only grew in professional, scientific, and technical activities, up 2.9%, and accommodation, food, and drink, up 0.7%. In accommodation, revenues increased by 7.5%, while food and drink fell by 1.4%. Legal and accounting activities saw the highest increase in specialist activities; revenues increased by 9.4%.
On the other hand, other professional, scientific, and technical activities, such as mediation, translation, and photographic services or building supervision, reported a decline in revenue of 1.6%.
In Q2, revenue also fell by 1.2% compared to the previous quarter. Growth was only recorded in professional, scientific, and technical activities and administrative and support activities compared to the first quarter.