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Published: 12 September 2019

In July, turnover of construction enterprises grew in all industries

The working day adjusted turnover of construction enterprises grew by six per cent in July year-on-year and the development was positive in all construction industries. The sales volume of construction also made an upturn after two months of decline. Growth was strongest for civil engineering enterprises, where 9.5 per cent more net sales was accumulated than in July 2018. The sales volume in this industry grew by 6.9 per cent year-on-year.

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

Specialised construction and building construction both grew almost at the same rate. Working day adjusted turnover in building construction made an upturn after a weak June and grew by 5.9 per cent. In specialised construction, net sales has developed stably for a long time and in July, working day adjusted net sales grew by 5.1 per cent from one year earlier.

The sales volume of building construction increased by 1.6 per cent in July year-on-year after two months of negative development. The sales volume of specialised construction was marginally positive in July as the change from one year ago was 0.8 per cent. The impact of price changes has been considered in the sales volume, so when prices go up the sales volume grows more slowly than net sales.

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

Turnover and sales volume grew from the previous month

In July, seasonally adjusted turnover of construction increased by 1.4 per cent and sales volume by 1.2 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, Statistics Finland

Inquiries: Liina Arhosalo 029 551 3612, Ulla Virtanen 029 551 3347, 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) (12.9.2019)

Revisions in these statistics

• Revisions in these statistics (12.9.2019)

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Updated 12.9.2019