Changes in the calculation method of the latest data for the index of turnover of construction

Starting from data for June 2018, the index of turnover of construction will adopt methodological time series models for some industries to help the calculation of the latest month. This reduces the revision caused by the slow accumulation of data. The latest month of the statistics is released at a delay of two and a half months.

Depending on the industry, the following methods have been used in the time series models:

1) The ARIMA model, to which factors formed with the main component analysis are combined from the sales inquiry data or the data used by the wage and salary index.

2) Regularisation models (Ridge, Lasso, Elastic-Net), to which factors formed with the main component analysis are combined from the sales inquiry data or the data used by the wage and salary index,

3) The static regression model which utilises the sales inquiry data or the data used by the wage and salary index.

More information about the used forecast methods is available on the Methodological descriptions page of the statistics.


Last updated 12.10.2018

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover of construction [e-publication].
ISSN=1798-5935. Helsinki: Statistics Finland [referred: 5.12.2019].
Access method: http://www.stat.fi/til/rlv/rlv_2018-09-13_uut_001_en.html