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Expected economic turnaround may fail to materialise, warns Danske Bank

Statistics Finland reported on Friday that the value of new orders in manufacturing slipped by 0.1% year-on-year in May and industrial output increased by roughly 1% from the previous year but declined by 0.5% from the previous month. Finnish Customs, meanwhile, published a set of preliminary data indicating that the value of goods exported from Finland decreased by 7% year-on-year to 4.3 billion euros in May. Kuoppamäki points out that the main trade partners of Finland have, with the exception of Russia, experienced economic growth while Finland has seen its share of world trade dwindle. Export-oriented industries, he estimates, have been hamstrung not only by their concentration on low-demand goods, such as investment goods and paper and pulp products, but also by problems related to competitiveness. (Helsinki Times)

 

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