Published: 30 April 2021

Preliminary data: Turnover of construction enterprises decreased in March

According to Statistics Finland's preliminary data, the working day adjusted turnover of construction enterprises fell by 5,9 per cent in March 2021 compared with March 2020.

Annual change in working day adjusted turnover of construction, % (TOL 2008)

Annual change in working day adjusted turnover of construction, % (TOL 2008)

Turnover decreased compared with the previous month

According to the preliminary data, seasonally adjusted turnover in construction decreased by 0.4 percent in March 2021 from February. In February, seasonally adjusted turnover fell by 0.3 per cent and in January turnover grew by 1.4 per cent from one month ago.

Change in seasonally adjusted turnover of construction from the previous month, % (TOL 2008)

Change in seasonally adjusted turnover of construction from the previous month, % (TOL 2008)

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 four weeks. The data may become significantly revised particularly in coming months.


Source: Index of turnover of construction, Statistics Finland

Inquiries: Lauri Pullinen 029 551 3043, Maija Sappinen 029 551 3348, rakennus.suhdanne@stat.fi

Head of Department in charge: Katri Kaaja

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Tables

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Appendix tables

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Updated 30.04.2021

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover of construction [e-publication].
ISSN=1798-5935. March 2021. Helsinki: Statistics Finland [referred: 17.5.2021].
Access method: http://www.stat.fi/til/rlv/2021/03/rlv_2021_03_2021-04-30_tie_001_en.html