Home > Statistics > Index of turnover of construction > 2021 > November > Turnover of construction grew by 11.4 per cent in November

Published: 13 January 2022

Turnover of construction grew by 11.4 per cent in November

According to Statistics Finland, working day adjusted turnover of construction enterprises grew by 11.4 per cent in November compared to the year before. The volume of sales, from which the impact of price changes has been eliminated, increased by 8.4 per cent. Seasonally adjusted turnover and sales volume in construction grew in November compared with October.

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

In November, turnover in construction industries grew fairly steadily. Working day adjusted turnover in building construction grew by 11.6 per cent and sales volume by 9.6 per cent compared to one year before. Working day adjusted turnover of civil engineering grew by 8.6 per cent from one year before. However, sales volume in the industry fell by 3.5 per cent. The weaker development of sales volume compared to turnover is explained by the risen costs of civil engineering in November. The turnover of specialised construction activities grew by 12.4 per cent and sales volume by 10.5 per cent from the year before.

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

Turnover in construction grew compared to October

Seasonally adjusted turnover in construction grew by 1.1 per cent in November compared to October. The seasonally adjusted sales volume grew by 0.8 per cent from October.

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)

Source: Index of turnover of construction, Statistics Finland

Inquiries: Lauri Pullinen 029 551 3043, Toni Kellinsalmi 029 551 3801, 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) (13.1.2022)

Revisions in these statistics

• Revisions in these statistics (13.1.2022)

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Updated 13.1.2022