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Published: 14 December 2021

Turnover of construction grew by 10.4 per cent in October

According to Statistics Finland, working day adjusted turnover of construction enterprises grew by 10.4 per cent in October compared to the year before. The volume of sales, from which the impact of price changes has been eliminated, increased by 7.4 per cent. Seasonally adjusted turnover in construction grew in October compared with September but seasonally adjusted sales volume remained on the level with September.

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

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

In October, turnover in construction industries grew fairly steadily. Working day adjusted turnover in building construction grew by 10.5 per cent and sales volume by 8.8 per cent compared to one year ago. Working day adjusted turnover of civil engineering grew by 9.3 per cent from one year before. However, sales volume in the industry fell by 0.1 per cent. The weaker development of sales volume compared to turnover is explained by the risen costs of civil engineering in October. The turnover of specialised construction activities grew by 10.5 per cent and sales volume by 8.8 per cent from the year before.

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

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

Turnover in construction grew compared to September

Seasonally adjusted turnover in construction grew by 0.4 per cent in October compared to September. Seasonally adjusted sales volume remained on level with the previous month.

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 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)

Trends in turnover of construction by industry (TOL 2008)

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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Revisions in these statistics

Updated 14.12.2021

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover of construction [e-publication].
ISSN=1798-5935. October 2021. Helsinki: Statistics Finland [referred: 8.2.2023].
Access method: http://www.stat.fi/til/rlv/2021/10/rlv_2021_10_2021-12-14_tie_001_en.html