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Volume indices of construction

Producer: Statistics Finland
Homepage: http:// www.stat.fi/til/rvi/index_en.html
Main topic: Construction
Related topics: Enterprises
Official Statistics of Finland (OSF): No
European Statistical System (ESS): No

Description

The volume index of construction describes relative change in the volume of commercial building output compared with the average of the base year. The volume index is calculated quarterly from turnover data by building company. Volume indices of building construction and civil engineering construction are calculated as sub-indices of the index. The effect of price changes is taken into consideration by deflating the volume index of building construction by Statistics Finland’s implicit price index and the volume index of civil engineering by the cost index of civil engineering works. Apart from the original indices, seasonally adjusted and trend series are also calculated.

Data content

The volume index of construction describes relative change in the volume of building output in Finland compared to a certain base time period. In compliance with international recommendations the base time period is revised at five-year intervals. The latest base year is year 2000. Besides the volume index of construction, separate volume indices are calculated for building construction and for civil engineering. In addition to original index series, seasonally adjusted series and trend series are also calculated. The index series start from 1995. The data of the index series are public. The data of the basic register are confidential because they contain unit-specific data.

Classifications used

Volume indices of construction are calculated for industries in accordance with the Standard Industrial Classification (Standard Industrial Classification 2002, Handbooks 4, Helsinki 2002). Total construction = (industry class 45), civil engineering = (TOL 451, 45219, 4523, 45240) and building construction = (TOL 45211,45250, 453, 454 and 455). The regional classification category is the whole country.

Data collection methods and data sources

Volume indices of construction are calculated quarterly. The Tax Administration’s detailed control data from the value added tax and employer contribution payment and reporting procedure and those obtained with Statistics Finland’s survey of large enterprises are used in the calculating. The observation unit is an enterprise or an industry unit. The calculation of the index is based on estimation of change. It sets out from detailed data on turnover in Finland. All enterprises for which data on it are available for the examined time period and for the corresponding period of the previous year are included in the calculation. The deflator used for the volume index of building construction is the implicit price index of Statistics Finland’s volume index of new building while the index of civil engineering cost is used for the volume index of civil engineering. The volume index for total construction is obtained by weighting together the volume indices of building construction and civil engineering. Value shares of output in the base year (2000) obtained from national accounts are used as the weights.

Updating frequency

Quarterly.

Time of completion or release

The volume indices of construction are published approximately 50 days after the end of the last month of each quarter. Plans for 2005 include increasing the frequency so that they will be produced monthly and speeding their publishing to within 45 days.

Time series

Time series of the volume index of construction start from the year 1995.

Keywords

Contact information

http://tilastokeskus.fi/til/rvi/yht_en.html

Last updated 08.07.2014