Home > Statistics > Index of turnover of construction > 2020 > July > Strong growth in turnover continues for civil engineering enterprises

Published: 15 September 2020

Strong growth in turnover continues for civil engineering enterprises

The working day adjusted turnover of construction enterprises grew by 3.2 per cent in July compared to July 2019. The turnover of building construction grew hardly at all and that of specialised construction activities increased by 1.2 per cent. The development of total construction is thus raised by the continued strong growth in civil engineering enterprises.

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

In July, the working day adjusted turnover of building construction increased by only 0.2 per cent from a year ago and sales volume turned to a decline of 1.2 per cent. In addition to building construction, specialised construction activities are another significant branch of construction. Sales volume also fell a little in specialised construction activities. In the volume index of sales, the effect of price changes is removed from turnover.

By contrast, working day adjusted turnover in civil engineering enterprises grew by 19.0 per cent and sales volume by as much as 24.4 per cent. The volume of sales has last grown this fast in 2015. In civil engineering, turnover has grown at the same time as the costs of civil engineering have fallen, which has strengthened the positive development of sales volume during spring and summer.

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

Turnover and sales volume nevertheless grew compared to June

Seasonally adjusted turnover in construction grew by 0.8 per cent in July from June. Seasonally adjusted sales volume grew by 0.9 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)

Source: Index of turnover of construction, Statistics Finland

Inquiries: Liina Arhosalo 029 551 3612, rakennus.suhdanne@stat.fi

Head of Department 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) (15.9.2020)

Revisions in these statistics

• Revisions in these statistics (15.9.2020)

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Updated 15.9.2020