Friday, Finland's Confederation of Finnish Industries EK said its confidence indicator for the country's manufacturing sector increased slightly in March, but remained at a very low level.
The manufacturing confidence indicator improved to minus 36 in March from the revised reading of minus 37 recorded in February. The level of the indicator is very low compared with its long-term average of 3.
Indicating that production will fall in the next few months, order books contracted further. Stocks of final goods continued to decline.
Further, the confidence indicator for the Finnish construction sector plunged to minus 62 from minus 56. the confederation said construction orders books were thin in March and major workforce decrease is expected over the next few months.
The service sector confidence indicator dropped to an all time low of minus 27 from a revised figure of minus 24 in February.
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