Industrial confidence improved in Finland during May 2010

Finnish manufacturing and retail trade companies have the most positive expectations, according to confidence indicators published by the Confederation of Finnish Industry

The latest confidence indicators compiled by the Confederation of Finnish Industry show that there is general confidence in a positive outlook for the Finnish economy.

The business situation for manufacturing companies improved in May, with the confidence indicator climbing to +8 points (+1 point in April). Production expectations are moderately positive and the current growth trend is expected to continue in the summer months.

Confidence in the construction sector improved slightly in May, although the confidence indicator is still below the long-term average. Order books have recovered gradually but they are still clearly below normal. Personnel figures are expected to increase somewhat during the next few months.

Finnish retail trade companies’ confidence strengthened in May, reaching +17 points (compared to +11 for the month before). Sales growth has picked up and expectations for the coming months are relatively positive.

The service companies’ confidence indicator was close to average levels in May, scoring +16 points (compared to +20 in April). Moderate sales growth is expected during the next few months.

Sources: YLE, Confederation of Finnish Industries EK