Finnish Industrial Production Growing Faster Than Expected


Finnish industrial production is growing faster this year than forecasted in March according to The Research Institute of the Finnish Economy (Etla). The March forecast expected a growth of 1.8 % this year and 2.5 % for the next. The first quarter of 2017 already recorded strong figures with a production growth of 2.3 %.

Finnish electricity and electronics industry’s production has turned to growth after several years of decline. Machinery and metal industry’s orders are almost at 2008 figures and metal refining export prices rose 26 % from last year. Motor vehicles exports will also increase about a fifth when compared to last year.

The situation is also brighter in the service and consumer sectors as Etla expects private services to grow 2.1 % this year and 1.5 % next year. Grocery retail market will continue in a moderate growth track and the hospitality and restaurant field will grow a couple of percent fueled by increasing amounts of foreign tourists coming to Finland. (Source: Tekniikka & Talous, 25.6.2017)

News archive