Value of new orders in manufacturing grows in Finland

Chemical industry and metal industry experience the fastest growth in orders.

New orders in manufacturing have grown during the early part of this year in Finland, anticipating the development of industrial output. According to Statistics Finland, the value of new orders in manufacturing was 5.5% higher in March 2014 than twelve months earlier.

The value of new orders also increased in February. In the first quarter of 2014 orders grew by 2.8% year-on-year. The value of new orders increased the fastest in the chemical industry where growth amounted to 10.0% compared to March 2013. Orders in the metal industry went up by 9.8% from the year before.

However, in the textile industry orders declined by 10.9% and in the manufacture of paper and paper board products orders fell by 8.4% from one year ago. Seasonally adjusted industrial output in Finland has grown in two successive months but industrial output adjusted for working days was still down by 5.8% compared to the first quarter in 2013.

Source: Statistics Finland