Business confidence on the rise
Of the main industries, only retail trade confidence weakened slightly.
Business confidence indicators January 2025
Last updated
Manufacturing | Construction | Services | Retail trade | |
---|---|---|---|---|
2019.01 | 4,4 | 15,1 | 14,2 | 7,2 |
2019.02 | −2,3 | 7,2 | 18,5 | 4,1 |
2019.03 | 0,1 | 8,2 | 14 | 2,6 |
2019.04 | −1,1 | 4,7 | 13,6 | 2,2 |
2019.05 | −0,5 | 7,4 | 13,1 | 3,5 |
2019.06 | −5,7 | 2,6 | 19 | 7 |
2019.07 | −3,8 | 2 | 10,9 | 11,3 |
2019.08 | −1,7 | 3,5 | 9,2 | 5,4 |
2019.09 | −3,9 | 6,5 | 10,3 | 12,6 |
2019.10 | −6,7 | 4,2 | 10 | 4,5 |
2019.11 | −7 | 1,9 | 8,1 | 6,4 |
2019.12 | −6,5 | 1,4 | 10,8 | 6,3 |
2020.01 | −8,3 | −0,3 | 9,2 | −2,9 |
2020.02 | −4,4 | 1 | 6,5 | −7,9 |
2020.03 | −6,4 | −2,5 | −2,9 | −15,9 |
2020.04 | −24 | −26,6 | −47 | −37,4 |
2020.05 | −26,7 | −23 | −44,5 | −14,8 |
2020.06 | −25,8 | −24,8 | −41,4 | −12 |
2020.07 | −16,5 | −14,5 | −18,6 | −3 |
2020.08 | −19,5 | −14,8 | −11,6 | 3,3 |
2020.09 | −19 | −15,8 | −11,2 | −5 |
2020.10 | −13,3 | −17 | −10,8 | −6,4 |
2020.11 | −13 | −17,6 | −10,9 | −1,2 |
2020.12 | −2,8 | −17,2 | −10,1 | −0,7 |
2021.01 | 1,3 | −20 | −3,3 | 1,6 |
2021.02 | −2,7 | −24,1 | −3,3 | 0 |
2021.03 | 4,6 | −15,5 | −4 | −3,4 |
2021.04 | 9,9 | −8,6 | 4 | 3,6 |
2021.05 | 14,3 | −11,2 | 12 | 12,2 |
2021.06 | 19,1 | −6,8 | 14,1 | 19,3 |
2021.07 | 17,7 | −1,7 | 20,8 | 13,8 |
2021.08 | 21,8 | 6,3 | 14 | 17,7 |
2021.09 | 21 | 7,7 | 18,3 | 13,5 |
2021.10 | 22,5 | 9,4 | 19,5 | 14,3 |
2021.11 | 23,4 | 12,5 | 18,2 | 16,4 |
2021.12 | 18,2 | 13,4 | 19,3 | 8,3 |
2022.01 | 18,2 | 7,7 | 15,1 | 8,3 |
2022.02 | 19,7 | 10,1 | 18,1 | 1,9 |
2022.03 | 14,2 | 2,7 | 12,9 | −8,1 |
2022.04 | 14,3 | −3,8 | 9,5 | −0,4 |
2022.05 | 12,1 | −16,2 | 8,8 | −0,9 |
2022.06 | 9,6 | −18,2 | 10,1 | −2,6 |
2022.07 | 5,2 | −20,7 | 8,7 | −1,7 |
2022.08 | 2,3 | −15,2 | 0,8 | −19,4 |
2022.09 | −1,2 | −5,4 | 2,6 | −19,9 |
2022.10 | −4,1 | −8,6 | 5,1 | −15,9 |
2022.11 | −7,3 | −11,9 | 0,7 | −12,6 |
2022.12 | −7,3 | −13,9 | 3,7 | −22,4 |
2023.01 | −4,1 | −25,1 | −0,9 | −13,7 |
2023.02 | −7,7 | −20,9 | 2,1 | −11,7 |
2023.03 | −12,6 | −17,5 | 5,3 | −10,1 |
2023.04 | −13,2 | −29,3 | 3,9 | −5,6 |
2023.05 | −12,3 | −9,6 | 0,2 | −7,5 |
2023.06 | −16,4 | −26,9 | −0,6 | −9,5 |
2023.07 | −19,8 | −34,8 | −1,9 | −14,1 |
2023.08 | −19,4 | −32,4 | −1,1 | −12,5 |
2023.09 | −20,8 | −35,9 | −4,7 | −13 |
2023.10 | −20,1 | −41 | −6,9 | −10,5 |
2023.11 | −20,4 | −42,8 | −4,8 | −15,5 |
2023.12 | −18,9 | −35,5 | −0,7 | −15,2 |
2024.01 | −12,4 | −40,3 | 0,6 | −7,4 |
2024.02 | −11 | −42,1 | −4,1 | −12 |
2024.03 | −13 | −40,1 | −2,8 | −12,2 |
2024.04 | −16,5 | −36,5 | −4 | −15,6 |
2024.05 | −12,9 | −38,6 | −4,1 | −19 |
2024.06 | −14,1 | −36,2 | 0,6 | −9,3 |
2024.07 | −11,6 | −34 | 1,1 | −11,5 |
2024.08 | −8,5 | −36,3 | 0,3 | −18,3 |
2024.09 | −11,8 | −35,1 | 0,2 | −8,5 |
2024.10 | −11,5 | −30,3 | 1,6 | −6 |
2024.11 | −7,2 | −24,3 | 3,5 | −7,1 |
2024.12 | −9 | −34,7 | 2,2 | 1,2 |
2025.01 | −6,9 | −23,1 | 2,1 | −2,8 |
Manufacturing confidence improved slightly
In manufacturing, the confidence indicator improved to -7 points in January. In the previous month, confidence was at -9. Confidence is lower than the long-term average (0 points).
Production is expected to grow slightly in the coming months. The order backlog has improved slightly, but still below the normal level. Finished product inventories remained close to average. Capacity is fully utilised by 57% of respondents.
In Finland, industrial confidence had risen in December to fairly close to the EU average
Confidence in construction restored in January
Confidence in construction recovered in January from the previous month’s decline. The latest balance figure was -23 points, compared to -35 the previous month. The long-term average for the confidence in construction is -8.
The order backlog for construction is still considerably below the level considered normal. The decline in the labour force is forecast to ease in the coming months.
According to comparison figures measured in December, confidence in construction in Finland was the weakest among EU countries.
Confidence in services remained stable in January
Confidence in services remained stable. In January, the confidence was on level with the previous survey, i.e. at +2 points. The long-term average for the service sector indicator is +11.
The general economic development is described as still subdued. However, the slow growth in sales has continued, and somewhat stronger growth is forecast for the coming months.
In December, confidence in services in Finland was somewhat weaker than in EU countries on average.
Retail trade confidence weakened slightly
Retail trade confidence weakened slightly in January. The confidence fell to -3 points from the December balance figure +1. The long-term average is -2.
In retail trade, sales volume was falling. However, sales expectations for the coming months are moderately positive. Inventories contracted slightly below average.
In December, confidence in Finland’s retail trade was close to the EU average.