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Published: 14 October 2020

Turnover of construction enterprises continued growing in August

The working day adjusted turnover of construction enterprises grew by 2.8 per cent in August compared to August 2019. The development was particularly influenced by the continued strong growth in the turnover of civil engineering. Working day adjusted turnover also grew in the industries of building construction and specialised construction activities.

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

Adjusted for working days, turnover in building construction grew by 2.4 per cent in August and the volume of sales, from which the impact of price changes has been eliminated, increased by 1.3 per cent from one year ago. The strong growth in working day adjusted turnover of civil engineering also continued in August. The working day adjusted turnover of the industry grew by 9.1 per cent and sales volume by 15.2 per cent from one year ago. The increase in the sales volume was particularly caused by the fallen costs of civil engineering due to decreases in the prices of motor fuel oil and bitumen. The working-day adjusted turnover of specialised construction activities grew by 0.6 per cent but sales volume fell by 0.5 per cent compared to one year back.

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

Both turnover and sales volume increased compared to July

Seasonally adjusted turnover in construction grew by 0.7 per cent in August from July. Seasonally adjusted sales volume grew by 0.7 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: Lauri Pullinen 029 551 3043, rakennus.suhdanne@stat.fi

Head of Department in charge: Mari Ylä-Jarkko

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• Appendix table 1. Annual change in working day adjusted turnover and sales volume in sectors of construction, % (TOL 2008) (14.10.2020)

Revisions in these statistics

• Revisions in these statistics (14.10.2020)

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Updated 14.10.2020