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CONSTRUCTION

Statistics Directorate    
French Equivalent: Construction

Definition:
In ISIC Rev. 4 the Tabulation Category (F) relating to construction is made up of the following 3 divisions:

41 - Construction of buildings
42 - Civil engineering
43 - Specialized construction activities.

Context:
The United Nations defines construction as comprising “economic activity directed to the creation, renovation, repair or extension of fixed assets in the form of buildings, land improvements of an engineering nature, and other such engineering constructions as roads, bridges, dams and so forth.”

Construction activity represents a significant share of the economies of all OECD Member countries both in terms of its contribution to GDP and total employment. It is also an important market for materials and products produced by other sectors of the economy, e.g. manufacturing. A characteristic feature of construction activity is its volatility and sensitivity to movements in overall business activity and the business cycle. For this reason, construction statistics are key economic indicators that are monitored closely by analysts in both government and the private sector.

However, the United Nations guidelines distinguish between “construction activity”, which may be carried out by any unit irrespective of its predominant activity, and “the construction industry”, which is confined to those units whose predominant activity falls within Tabulation Category F (Construction) of ISIC Rev. 3.

Source Publication:
UN Statistics Division, n.d. ISIC Rev.4 code F. Website. Available at: see website.

NACE Rev. 1.

See also International Recommendations for Construction Statistics, United Nations, 1977, Series M, No. 47, Rev. 1, para. 15.

Cross References:
Construction contractor
Construction indicators
Construction price indices
Construction work completed
Construction, other
International Standard Industrial Classification of All Economic Activities (ISIC)
NACE

Hyperlink:
http://unstats.un.org/unsd/cr/registry/regcs.asp?Cl=27&Lg=1&Co=F

Classification Indicator: Classification

Statistical Theme: Classifications

Created on Tuesday, September 25, 2001

Last updated on Tuesday, April 23, 2013