A more recent publication of this set of statistics is available.

Latest publication: Index of turnover of construction 2019, August

Published: 12 April 2019

Growth in turnover of construction continued in February

In February, the working day adjusted turnover of construction enterprises increased by 7.0 per cent and sales volume by 2.4 per cent compared to February of the previous year. Development was most favourable in civil engineering, where both turnover and sales volume increased strongly.

Annual change in working day adjusted turnover and sales volume of construction, February 2019, %

Annual change in working day adjusted turnover and sales volume of construction, February 2019, %
Turnover grew well in all sectors of construction in February. The annual change in working day adjusted turnover varied from 5.9 per cent in specialised construction activities to 10.2 per cent in civil engineering. In the development of sales volume there were, however, more differences between the industries. The sales volume of civil engineering adjusted for working days increased by 8.0 per cent from the previous year, while the corresponding figure in building construction was 2.6 per cent and in specialised construction activities 1.4 per cent. The variation in change percentages is explained by the different development of prices between industries. The sales volume is calculated by removing the effect of price changes from turnover.

Annual change in working day adjusted turnover and sales volume of construction, %

Annual change in working day adjusted turnover and sales volume of construction, %

Turnover of construction increased almost as much in February as in January

The seasonally adjusted change in February from the previous month was close to zero for both turnover and sales volume of construction. In January and February, working day adjusted turnover grew nearly at the same rate from the year before. Working day adjusted turnover for October and November have also grown at the same rate. It is typical for the index of turnover of construction that there can be turnover spikes in individual months due to the invoicing practices of construction enterprises. This means that turnover can grow strongly in some months but there are also periods of steady growth.

Change in seasonally adjusted turnover and sales volume of construction from the previous month, %

Change in seasonally adjusted turnover and sales volume of construction from the previous month, %

The calculation of indices of turnover of construction is based on the Tax Administration’s data on self-assessed taxes, which are supplemented with Statistics Finland’s sales inquiry. The monthly turnover of construction enterprises can have even large variations due to invoicing practices. The final invoice for major projects may be recorded in the sales of one month, even if the project had required the work of several months or years.

The factors caused by the variation in the number of weekdays are taken into account in adjustment for working days. This means taking into consideration the lengths of months, different weekdays and holidays. In addition, seasonal variation is eliminated from seasonally adjusted series, on account of which it makes sense to compare observations of two successive months as well.

The data for the latest month are preliminary and they may become significantly revised particularly on more detailed industry levels in coming months.

Trends in turnover of construction by industry (TOL 2008)

Trends in turnover of construction by industry (TOL 2008)

Source: Index of turnover of construction 2019, February, Statistics Finland

Inquiries: Liina Arhosalo 029 551 3612, Heli Suonio 029 551 2481, rakennus.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

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Tables

Tables in databases

Appendix tables

Revisions in these statistics

Updated 12.4.2019

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover of construction [e-publication].
ISSN=1798-5935. February 2019. Helsinki: Statistics Finland [referred: 17.10.2019].
Access method: http://www.stat.fi/til/rlv/2019/02/rlv_2019_02_2019-04-12_tie_001_en.html