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Latest publication: Index of turnover of construction 2019, August

Published: 13 June 2019

Turnover and sales volume in construction grew in April

The working day adjusted turnover of construction enterprises grew by 14.1 per cent year-on-year in April 2019. Over the same time period, the volume of sales, from which the impact of prices has been eliminated, increased by 8.3 per cent. Both in terms of turnover and sales volume, the construction industry that grew most was building construction.

Annual change in working day adjusted turnover and sales volume of construction, April 2019, %

Annual change in working day adjusted turnover and sales volume of construction, April 2019, %
In April, the development of turnover was positive in all industries of construction. Working day adjusted turnover in building construction grew by 18.4 per cent from April 2018. Civil engineering that grew most year-on-year in March 2019 showed healthy growth also in April. In April, 16.2 per cent more turnover was accumulated in civil engineering than in the corresponding period last year. The turnover of specialised construction activities went up by 7.4 per cent from twelve months back.

In April, the sales volume grew in all industries of construction, but the growth was more modest than for turnover. It is normal that the sales volume grows more slowly than turnover, as prices usually grow rather than decline. The volume index of sales is calculated by dividing the turnover index with the price index and multiplying by one hundred. The volume of sales adjusted for working days grew by 14.3 per cent in building construction and in civil engineering by 9.2 per cent. Sales volume in specialised construction activities grew by 2.8 per cent from the year before.

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

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

Change from the previous month increased for the third month in a row both in turnover and sales volume

Seasonally adjusted turnover in construction grew by 1.4 per cent from March to April. Sales volume grew by 0.9 per cent during the same time period. The seasonally-adjusted monthly change was positive for the third month in a row. It is more typical in construction that the change from the previous month alternates between positive and negative. This is caused by invoicing practices related to large construction projects that cause spikes in the index of turnover. In March, seasonally adjusted turnover grew by 1.2 per cent and sales volume by 0.8 per cent compared to February.

Change in seasonally adjusted turnover and sales volume of construction 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 they may become significantly revised particularly on more detailed industry levels in coming months.

Trends in turnover of construction by industry (TOL 2008)

Trends in turnover of construction by industry (TOL 2008)

Source: Index of turnover of construction 2019, April, Statistics Finland

Inquiries: Liina Arhosalo 029 551 3612, Heli Suonio 029 551 2481, rakennus.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

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Tables

Tables in databases

Appendix tables

Revisions in these statistics

Updated 13.6.2019

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover of construction [e-publication].
ISSN=1798-5935. April 2019. Helsinki: Statistics Finland [referred: 21.10.2019].
Access method: http://www.stat.fi/til/rlv/2019/04/rlv_2019_04_2019-06-13_tie_001_en.html