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Published: 15 May 2020

Turnover and sales volume of construction enterprises continued growing in March

The working day adjusted turnover of construction enterprises grew by 4.6 per cent compared to one year before. The volume of sales, from which the impact of prices has been eliminated, increased by 1.4 per cent. The turnover of all industries was growing, and especially civil engineering grew strongly.

Annual change in working day adjusted turnover and sales volume of construction, March 2020, %

Working day adjusted turnover of building construction increased by 5.8 per cent and sales volume by 2.7 per cent compared to one year back. Turnover of civil engineering adjusted for working days increased by 11.7 per cent and sales volume by 11.6 per cent. Turnover grew most moderately in specialised construction activities, where the year-on-year change in working day adjusted turnover was 1.1 per cent and measured by sales volume -1.8 per cent.

Annual change in working day adjusted turnover and sales volume of construction, March 2020, %

Turnover and sales volume decreased from one month back

Seasonally adjusted turnover in construction decreased in March by 0.3 per cent from February. Seasonally adjusted sales volume decreased by 0.7 per cent from one month back.

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, 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) (15.5.2020)

Revisions in these statistics

• Revisions in these statistics (15.5.2020)

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Updated 15.5.2020