Home > Statistics > Index of turnover of construction > 2019 > May > Turnover of construction grew by 2.5 per cent in May, but sales volume decreased

Published: 12 July 2019

Turnover of construction grew by 2.5 per cent in May, but sales volume decreased

In May 2019, working day adjusted turnover grew and growth was achieved in all industries of construction, but the sales volume declined by 1.6 per cent year-on-year. The weak development in building construction pushed the sales volume of total construction downward. Turnover grew most rapidly in civil engineering, by 7.4 per cent year-on-year, and measured by sales volume it was the only growing industry in construction.

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

Building construction development was weakest in May. In this industry, working day adjusted turnover only grew by 1.1. per cent and the sales volume decreased by 3.0 per cent from one year ago. Turnover in specialised construction activities fared somewhat better and grew by 2.7 per cent year-on-year, but the sales volume from which the effects of price changes have been eliminated decreased in this industry as well, by 1.4 per cent. The growth in civil engineering continued, but as the smallest industry in construction it is not enough to generate stronger turnover growth for the entire construction industry.

According to the Structural business and financial statement statistics, the turnover of civil engineering has been on average 14 per cent of the total turnover in construction in 2013 to 2017, while the share of building construction has been 45 per cent and that of specialised construction 41 per cent.

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

Turnover and sales volume decreased from the previous month

Seasonally adjusted turnover and sales volume in construction fell in May after three positive months. In May, 2.7 per cent less turnover was generated than in April. The sales volume decreased by 3.0 per cent during the same period. The changes in seasonally adjusted turnover and sales volume are typically quite high from one month to another in the construction industry. This is caused by invoicing practices related to large construction projects that cause spikes in the index of turnover.

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, May, 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) (12.7.2019)

Revisions in these statistics

• Revisions in these statistics (12.7.2019)

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Updated 12.7.2019