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Published: 14 April 2021

Turnover of construction enterprises decreased in February

According to Statistics Finland, the working day adjusted turnover of construction enterprises fell by 4.0 per cent in February compared to the previous year. The volume of sales, from which the impact of prices has been eliminated, decreased by 3.3 per cent. Turnover and sales volume fell in all industries of construction. The decline was strong especially in building construction.

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

Working day adjusted turnover in building construction fell by 10.9 per cent and sales volume by 10.8 per cent in February compared with the year before. In civil engineering, turnover adjusted for working days decreased by 1.0 per cent and sales volume by 3.8 per cent year-on-year. The working day adjusted turnover of specialised construction activities decreased by 0.2 per cent and the sales volume by 0.1 per cent from one year ago.

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

Both turnover and sales volume decreased compared to January

Seasonally adjusted turnover in construction decreased in February by 0.3 per cent from January. Seasonally adjusted sales volume fell by 0.2 per cent from one month ago.

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)

Source: Index of turnover of construction, Statistics Finland

Inquiries: Lauri Pullinen 029 551 3043, Maija Sappinen 029 551 3348, rakennus.suhdanne@stat.fi

Head of Department in charge: Katri Kaaja

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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) (14.4.2021)

Revisions in these statistics

• Revisions in these statistics (14.4.2021)

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Updated 14.04.2021