World Economy

Finland Factory Orders Leap by 20 Percent

Finland Factory Orders Leap  by 20 PercentFinland Factory Orders Leap  by 20 Percent

In another sign of Finland’s long-awaited economic recovery, manufacturing orders rose by one fifth from January to June, compared with a year earlier. The metal industry is staging a particularly strong comeback, according to June data released by Statistics Finland on Thursday, reported. That month its order books were worth 16.6% more than in mid-2016. The chemical sector also surged in June, up 11.3%. However the paper and textile industries saw declines of 1.4 and 3.4% respectively. Overall, the value of new industrial orders in June rose by 11.9% year-on-year. The figures include orders for commodities and services to be produced within Finland’s borders. The central statistics office points out that order data can show dramatic monthly fluctuations as major orders are only counted during the month they are announced. These include, for instance, two multi-billion-euro contracts landed in May by the Turku and Helsinki shipyards.

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