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Published: 14 May 2019

Turnover and sales volume in construction increased in March

In March 2019, the working day adjusted turnover of construction enterprises increased by 9.0 per cent and sales volume by 3.9 per cent year-on-year. Among the industries, development was most favourable both in terms of turnover and sales volume in civil engineering.

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

In March, turnover grew in all industries of construction. The working day adjusted turnover of civil engineering grew by 17.5 per cent, but the turnover of building construction also grew slightly faster than the entire construction industry, by 9.8 per cent year-on-year. The turnover of specialised construction activities went up by 6.2 per cent from twelve months back. The volume of sales, from which the impact of prices has been eliminated, grew in March more moderately than turnover in all other industries except for civil engineering. The volume of sales adjusted for working days grew in building construction by 5.4 per cent and in specialised construction by 1.5 per cent. The sales volume of civil engineering grew slightly more than turnover, by 17.7 per cent year-on-year.

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

Sales volume decreased more than turnover compared with the previous month

Seasonally adjusted turnover in construction decreased in March by 0.3 per cent from February. Over the same time period, the volume of sales, from which the impact of prices has been eliminated, decreased by 0.8 per cent. In February, seasonally adjusted turnover grew by 2.2 per cent and sales volume by 1.6 per cent compared to January.

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)

Source: Index of turnover of construction 2019, March, 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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Appendix tables

• Appendix table 1. Annual change in working day adjusted turnover and sales volume in sectors of construction, % (TOL 2008) (14.5.2019)

Revisions in these statistics

• Revisions in these statistics (14.5.2019)

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Updated 14.5.2019