Finland Industry Mood Rises Further in July

Finland’s industrial confidence indicator fell to 3 in September 2026 from a slightly downwardly revised 5 in August, marking the lowest reading since April but remaining above its long-term average of 0. Production expectations for the coming months stayed positive at 20, only slightly below 21 in August, with production volumes expected to increase toward the end of the year. Assessments of order books edged down to -6 from -5, while finished goods inventories rose to 5 from 0 and moved above their long-term average of 3. Capacity utilization improved, with 66% of companies reporting they were operating at full capacity, up from 64% in August but below the historical average of 70%. The survey also showed that Finnish industrial confidence remained clearly above the EU average based on August comparative data.

Finland’s manufacturing confidence indicator edged down to 6 in August 2026 from 7 in the previous month, easing slightly after reaching its highest level since June 2022 in July, but remaining above its long-term average of 0. Production expectations for the coming months moderated to 22 from 30 in July, while capacity utilization declined, with 64% of companies reporting they were operating at full capacity, down from 68% in the previous month and below the historical average of 70%. At the same time, assessments of order books improved to -5 from -11, moving closer to normal levels, while views on finished goods inventories edged up to 0 from -1, indicating inventories were broadly in line with their long-term average.

Finland’s manufacturing confidence indicator rose to 7 in July 2026 from 4 in the previous month, holding at its highest level since June 2022 and remaining above its long-term average of 0. Production expectations for the coming months strengthened further to 31 from 28 in June, while spare capacity in the sector remained notable, with 68% of respondents reporting they were operating at full capacity in June, up from 66% in the previous month, although it remained below the historical average of 70%. Assessments of order books remained unchanged from -11, moving closer to normal levels, while views on finished goods inventories declined to -1 from 3.