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Published: 14 October 2021

Turnover of construction continued growing in August

According to Statistics Finland, working day adjusted turnover of construction enterprises grew by 6.8 per cent in August compared to the year before. The volume of sales, from which the impact of prices has been eliminated, increased by 4.7 per cent. Turnover grew in all construction industries, most in building construction.

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

Working day adjusted turnover in building construction grew by 8.0 per cent and sales volume by 7.2 per cent compared to one year ago. The turnover of civil engineering adjusted for working days increased by 5.8 per cent from the year before, but sales volume went down by 3.9 per cent. The working day adjusted turnover of specialised construction activities grew by 6.2 per cent and sales volume by 5.5 per cent from the year before.

Annual change in working day adjusted turnover and sales volume of construction, August 2021, %

Turnover in construction grew compared to July

Seasonally adjusted turnover in construction grew by 0.8 per cent in August from July. Seasonally adjusted sales volume grew by 0.4 per cent from the previous month.

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)

New tables for the index of turnover of construction

Statistics Finland starts publishing data on revisions to the turnover and volume data of construction industries in the StatFin database service. The published data allow better monitoring of the relevance of industry-specific change percentages. More about this under Changes in these statistics .

Source: Index of turnover of construction, Statistics Finland

Inquiries: Lauri Pullinen 029 551 3043, Heli Suonio 029 551 2481, 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) (14.10.2021)

Revisions in these statistics

• Revisions in these statistics (14.10.2021)

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Updated 14.10.2021