Published: 12 February 2021
Turnover of construction enterprises continued falling in December
The fall in working day adjusted turnover and sales volume of construction enterprises continued in December. According to Statistics Finland, turnover adjusted for working days went down by 3.7 per cent compared to the year before. The volume of sales, from which the impact of prices has been eliminated, fell by 3.3 per cent. Among construction industries, turnover and sales volume declined in building construction and specialised construction activities. In civil engineering, turnover and sales volume continued to grow strongly.
Annual change in working day adjusted turnover and sales volume of construction, %
Seasonally adjusted turnover in building construction fell in December by 9.8 per cent and sales volume by 10.1 per cent compared to one year ago. Working day adjusted turnover in civil engineering grew by 15.9 per cent and sales volume by 13.9 per cent compared to one year earlier. The working day adjusted turnover of specialised construction activities fell by 2.6 per cent and sales volume by 2.8 per cent from the year before.
Annual change in working day adjusted turnover and sales volume of construction, December 2020, %
Both turnover and sales volume fell compared to November
Seasonally adjusted turnover in construction went down by 0.7 per cent in December compared to November. Seasonally adjusted sales volume fell by 0.8 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 are released at a delay of around six weeks. The data 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 2021, 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 2019-2020. 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, rakennus.suhdanne@stat.fi
Head of Department in charge: Katri Kaaja
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Appendix tables
- Revisions in these statistics
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- Revisions in these statistics (12.2.2021)
Updated 12.02.2021
Official Statistics of Finland (OSF):
Index of turnover of construction [e-publication].
ISSN=1798-5935. December 2020. Helsinki: Statistics Finland [referred: 24.11.2024].
Access method: http://www.stat.fi/til/rlv/2020/12/rlv_2020_12_2021-02-12_tie_001_en.html