Confidence in major business sectors, except for retail trade increased in November, said the Confederation of Finnish Industries (EK) on Wednesday.
In the manufacturing sector, the confidence indicator rose to minus 7 in November. In the previous month, confidence was at minus 12 points.
However, confidence is still below the long-term average, which is 0.
Production is expected to grow rather slowly in the coming months. The order backlog improved but remained below the level considered normal in November. Finished goods inventories decreased to near average levels. Capacity utilization is at 59% among respondents, slightly higher than in October.
In Finland, manufacturing confidence in October was still somewhat weaker than the EU average.
Confidence in the construction sector is still weak, but the confidence indicator has started to gradually strengthen.
In November, the measured level was minus 24 points, compared to minus 30 in the previous month. The long-term average of the confidence indicator is minus 8.
The order backlog in construction improved slightly from the lowest levels but is still clearly below normal. Expectations for employment development in the construction sector remain modest.
According to October comparison figures, Finland’s construction confidence was still the weakest among EU countries.
Confidence in the service sector was on a slight upward trend in November. The confidence indicator rose by two points to +4. The long-term average of the service sector indicator is +11.
The general economic situation has been described as still sluggish in recent months. However, sales have grown slightly, and a somewhat faster growth is forecast for the coming months.
In Finland, service sector confidence in October was the third weakest among EU countries.
The rise in the retail trade confidence indicator halted in November. The latest reading of the confidence indicator is minus 7 points, compared to minus 6 in the previous month. The long-term average is minus 2.
In retail trade, sales continued to decline, but at a slightly slower pace than before.
However, sales expectations for the coming months are subdued. Inventories grew a bit and are slightly above the average level.
In Finland, retail trade confidence in October was somewhat weaker than the EU average.
- Business
- Confidence
- Rises
- Weak
Source: www.dailyfinland.fi
