Home > Statistics > Index of turnover of construction > 2019 > December > Turnover of construction enterprises contracted by 1.8 per cent in December

Published: 13 February 2020

Turnover of construction enterprises contracted by 1.8 per cent in December

Adjusted for working days, turnover of construction enterprises contracted by 1.8 per cent in December from one year back. Measured by sales volume, construction decreased by 3.7 per cent. The fall in turnover and sales volume was mainly affected by the weak development of building construction compared to one year ago.

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

Among the industries, the development of working day adjusted turnover was weakest in building construction. Turnover diminished by 6.8 per and sales volume by 10 per cent year-on-year. The strongest development was seen in civil engineering, where working day adjusted turnover grew by 5.5 per cent and sales volume by 6.0 per cent from one year back. Working day adjusted turnover in specialised construction activities also grew by 2.5 per cent while sales volume decreased by 1.0 per cent from one year back.

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

Both turnover and sales volume weakened compared to November

Seasonally adjusted turnover in construction contracted by 0.5 per cent in December compared to November. Seasonally adjusted sales volume contracted 0.4 per cent from one month ago.

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)

Industries of enterprises have been revised in the data released in February

Starting from statistical release published in February 2020 the latest industries defined by the Business Register have been taken into use in the turnover and wage and salary indices. The industry corrections are visible as revised data in some of the published industries for the years 2018-2019. The effects of the changes are taken into consideration in statistics production so that no breaks occur in the time series of the published index series. The interpretation of the statistics also remains unchanged in the renewal. Revisions to annual changes in industries are presented under Revisions in these statistics .

Source: Index of turnover of construction, Statistics Finland

Inquiries: Lauri Pullinen 029 551 3043, Liina Arhosalo 029 551 3612, 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) (13.2.2020)

Revisions in these statistics

• Revisions in these statistics (13.2.2020)

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Updated 13.2.2020