Changes in index of turnover of construction statistics
Date of change:Statistcs: index of turnover of construction
The base year of the statistics is updated from 2015 to 2021
The statistics are renewed in connection with the publication of data for 2024, when the reference period, the base year, is updated from 2015 to 2021. The new base year is defined in Regulation (No 2019/2152) of the European Parliament and of the Council on European business statistics and it concerns short-term business statistics of all Member States. In future, database tables published with the old base year (2015=100) will no longer be updated.
Changing the base year and the changes made in connection with it have an effect on several statistics on short-term business trends published by Statistics Finland. Further information about the renewal can be found in a joint release.
In connection with updating the base year, the indices are calculated again from the beginning of 2021. In this connection, the data may become revised. Along with the change of the base year, the limitation of data will be changed. This is based on the EU Regulation on business statistics according to which the index must describe market output. Therefore, activities that are not market-based are excluded from the statistics more precisely than before. The effects are of qualitative nature and are visible as revisions to data in some of the published industries.
At the same time, the separate preliminary publication of the statistics at a lag of around one month is discontinued. In future, all data will be published at a lag of around one month from the statistical reference period.
From the statistical reference year 2021 onwards, the index of turnover of construction includes exports in addition to domestic sales. Domestic sales and exports abroad are not published as separate series, but in future, turnover will describe the combined development of both. This complies with the definitions of the EU Regulation (EU) 2019/2152 on business statistics according to which the statistics must also cover production taking place abroad on behalf of a domestic unit. The background and reasons for the change are described in the working paper Globalisation and economic statistics (in Finnish).