Orders have decreased continuously for ten months.
Industry according to Statistics Finland, the value of new orders was almost 19 percent lower last November than a year earlier.
Between January and November, orders decreased by more than 12 percent year-on-year. Orders have decreased continuously for ten months.
Statistics Finland reports that in November, companies received fewer new orders than a year ago in all the main industries examined.
Orders decreased the most in the metal industry, where the value of new orders was more than 21 percent lower than in November of the year. In the chemical industry, orders decreased by just under 17 percent, and in the manufacture of paper and paper and cardboard products by more than 11 percent.
“The background of the weak situation is the simultaneous weak development of Finland's most important export markets and the uncertain outlook of the economy both in Finland and in Europe”, the economist of Suomen Yrittäjie Petri Malinen says in the announcement.
“Confidence in the future in industrial companies is clearly lower than the long-term average. The decline in activity in the Finnish economy, the decrease in export and industrial order volumes, combined with the weak confidence of companies and high interest rates, tells a stark picture of the situation at the beginning of the year.”
Statistics Finland also says that seasonally adjusted industrial production decreased by 0.2 percent in November from October. On the other hand, the working day-adjusted production of industry grew by 1.1 percent compared to November last year.
According to statistics, production in the forest industry increased by more than two percent from the previous month. There was also a slight increase in the chemical industry and electricity, gas, heating and air conditioning maintenance.
“Production in all other main industries decreased from the previous month,” Statistics Finland says in a press release.
The biggest decline was in mining and quarrying, where production fell by almost six percent in November from the previous month.
Compared to a year ago, production increased the most in the electricity, gas, heating and air-conditioning maintenance industry, where growth accumulated by more than 21 percent. The production of the chemical industry grew by a good 9 percent from November last year, and the production of mining and quarrying grew by a good six percent.
In contrast, production in the electrical and electronics industry fell by just under 11 percent from a year ago, and in the forest industry by just under seven percent.
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