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Published: 14 August 2019

Weak development of turnover of building construction continued in June

Working day adjusted turnover in construction grew by 3.6 per cent from June 2018, but the sales volume remained on level with the previous year. Growth in construction was slowed down by the industry of building construction, in which the change in working day adjusted turnover from the previous year now has been close to zero for two months in a row. Measured by sales volume, building construction was the only declining industry in construction. Growth in construction was generated by enterprises in specialised construction and civil engineering.

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

Measured by turnover, of all construction industries, growth was strongest in specialised construction activities, where 6.6 per cent more turnover was accumulated than in June 2018. Civil engineering developed almost equally well with a growth of 5.3 per cent. However, measured by sales volume, civil engineering grew more strongly, by 3.9 per cent, whereas specialised construction activities stood at only 2.2 per cent. The difference is due to the different price development in the industries. In June, development was weakest in building construction, where working day adjusted turnover grew by 0.3 per cent and the sales volume decreased by 3.9 per cent.

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

Turnover and sales volume increased compared to the previous month

In June, seasonally adjusted turnover in construction increased slightly from the previous month, by 0.7 per cent. The change in sales volume from the previous month was also positive, 0.6 per cent.

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)

Source: Index of turnover of construction 2019, June, 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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Appendix tables

• Appendix table 1. Annual change in working day adjusted turnover and sales volume in sectors of construction, % (TOL 2008) (14.8.2019)

Revisions in these statistics

• Revisions in these statistics (14.8.2019)

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Updated 14.8.2019