RTTNews - Finland's manufacturing confidence fell to minus 33 in May from April's revised reading of minus 32, the Confederation of Finnish Industries EK said Wednesday.
In May, order books were extremely low, while production expectations were slightly less pessimistic than the previous months. Stocks of final goods stayed above average, the business lobby said.
The confidence indicator for the Finnish construction sector scored minus 50 after revised minus 56 in April. However, it is considerably below its long-term average. Order books were thin and major workforce decrease is expected in the next few months.
Meanwhile, the gauge for service sector confidence remained close to the lowest reading ever recorded. The indicator logged minus 32 points, slightly up from revised minus 33 in April. Sales growth was in a decline, which is expected to continue during the next couple of months, the confederation said.
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