The value of new orders in industry increased in November for the second month in a row

Industry the value of new orders in Finland was 21.0 percent higher in November than at the same time a year earlier, says Statistics Finland.

The greatest growth was seen in the metal industry, where the value of orders was 30.0 percent higher compared to the same time a year earlier. Growth in the chemical industry was 8.9 percent.

The value of orders in the paper industry, on the other hand, decreased by 0.8 percent in November from a year ago.

Strong fluctuations are typical on a monthly basis, because the order values ​​are assigned to the statistical month as such. From January to November, the value of new orders received by companies decreased by 1.8 percent compared to the same period a year earlier.

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“The expectations of industrial companies, which have turned to a gentle rise, are gradually beginning to be reflected in the order figures, as the growth prospects of Finnish industry are supported by the reduced interest rate”, the economist of Suomen Yrittäjie Roope Ohlsbom says in the announcement.

However, according to Ohlsbom, the prospects of Finnish industry are still overshadowed by several risks, such as the next US president Donald Trump’s stirring trade and geopolitical instability, the problems of German industry and the situation in the Middle East. The economist also warns of structural problems in the euro area’s industry, which may lead to a delay in the positive turnaround.