Turnover of construction enterprises decreased by 1.5 per cent in November

According to Statistics Finland, the working day adjusted turnover of construction enterprises decreased by 1.5 per cent year-on-year in November. The volume of sales, from which the impact of prices has been eliminated, decreased by 1.3 per cent. Among construction industries, turnover and sales volume grew only in civil engineering. Turnover and sales volume in the industries of building construction and specialised construction activities fell compared to one year ago.

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

Working day adjusted turnover in building construction fell by 6.0 per cent and sales volume by 6.5 per cent in November compared with the year before. Turnover of civil engineering adjusted for working days increased by 12.1 per cent and sales volume by 13.8 per cent year-on-year. The working day adjusted turnover of specialised construction activities decreased by 0.2 per cent and the sales volume by 0.8 per cent from one year ago.

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

Both turnover and sales volume increased compared to October

Seasonally adjusted turnover in construction grew by 0.4 per cent in November compared to October. The seasonally adjusted sales volume grew by 0.5 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, rakennus.suhdanne@stat.fi

Head of Department in charge: Katri Kaaja

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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) (15.1.2021)

Revisions in these statistics

Revisions in these statistics (15.1.2021)

Updated 15.01.2021

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover of construction [e-publication].
ISSN=1798-5935. November 2020. Helsinki: Statistics Finland [referred: 22.12.2024].
Access method: http://www.stat.fi/til/rlv/2020/11/rlv_2020_11_2021-01-15_tie_001_en.html