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Confidence in Finland’s construction sector fell again in June, even as sentiment improved slightly in manufacturing and services, according to the Confederation of Finnish Industries (EK).
The manufacturing confidence index rose from –11 in May to –9 in June. Despite the gain, it remains well below the long-term average of 0. Just over half of the companies surveyed said they were using their full production capacity. Order volumes continue to be lower than normal.
Most manufacturers expect output to grow slightly in the coming months. In May, confidence in Finnish manufacturing remained below the EU average.
The outlook for the construction sector remains negative. The confidence index dropped further, to –33 in June from –30 the previous month. This is far beneath the long-term average of –9.
Construction firms reported limited order books and indicated that workforce reductions are likely in the near future. In May, confidence in Finland’s construction industry was the lowest in the EU.
Confidence in private services improved marginally but remains below historical levels. Last month, the sector’s outlook was just below the EU average.
Retail sentiment declined after several months of improvement. Sales slowed slightly and expectations weakened, though confidence remained above both the long-term and EU averages.
EK represents over 15,000 firms employing around 900,000 people. Its monthly survey tracks economic sentiment across major business sectors.
HT
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Source: www.helsinkitimes.fi
