Decline in Construction Turnover in Finland for November 2023

According to Statistics Finland, the workday-adjusted turnover of construction companies in November 2023 decreased by 6.8% compared to the same month the previous year. The quantity of sales, excluding the impact of price changes, fell by 6.9%. The weakened performance in the construction of residential buildings primarily contributed to the overall decline in turnover and sales.

Key Highlights:

  • Construction turnover decreased by 6.8% in November 2023 compared to the previous year.
  • Sales quantity declined by 6.9% in November 2023 compared to the previous year.
  • Decline observed in construction turnover and sales quantity across most sectors.

Detailed Sector Analysis:

  • Workday-adjusted turnover in residential construction decreased by 14.5%, and sales quantity dropped by 14.7% compared to November 2022.
  • In contrast, workday-adjusted turnover in earthmoving and water construction increased by 9.0%, with sales quantity growing by 5.9% compared to the previous year.
  • Specialized construction activities saw a 4.2% decline in turnover and a 4.4% decrease in sales quantity compared to November 2022.

Seasonally Adjusted Turnover:

  • Seasonally adjusted construction turnover decreased by 0.5% in November 2023 compared to September.
  • Seasonally adjusted sales quantity also experienced a 0.4% decline from October.

The November figures reflect the challenges faced by the construction sector in Finland, with residential construction notably impacting the overall performance. The varying trends across different construction segments suggest a complex landscape within the industry.