Business outlook for manufacturing and construction

Last updated 18/03/2021 - 12:02

Clear upturn in the business outlook

There was a clear increase in trust among Finnish manufacturing sector companies in January. The trust indicator is now close to its long-term average of +1 as the figure for January was 0. Production is estimated to grow in the coming months. The order book improved and is now close to a level considered normal. Stocks of finished goods decreased in January to a slightly lower level than usual.

The situation is improving both in Uusimaa and the rest of the country

The business outlook for manufacturing and construction in Uusimaa

The business outlook for manufacturing and construction in Uusimaa improved by the end of 2020, but the situation was still worse than average in January 2021. Despite its recent upturn, the business outlook remains bleak, with a balance figure of -8 (was -27 in October). In the January survey, 24 per cent of respondents estimated that the business outlook was still getting bleaker and 16 per cent of the sector expected the outlook to start improving soon.

On the national level, trust among manufacturing companies increased by five points compared with the previous month. The January balance figure was 0, when in December it was -5. The trust indicator is now close to its long-term average of +1. The situation and business outlook for manufacturing sector companies have improved significantly in six months.

Trust among construction companies decreased in January in the entire country. The trust indicator balance figure was -19 points, which is four points lower compared with the previous month. The long-term average of the indicator is -6, which means trust remains clearly below average. The order book was described as remaining below its usual level despite a slight improvement