Manufacturers report lower export orders

The Economic Tendency Indicator, which summarises how consumers and firms view the economy, fell from 102.3 in July to 100.0 in August, a level that points to normal economic growth. The decrease is due mainly to weaker sentiment in the manufacturing industry, but the retail and consumer indicators also fell. The construction sector, on the other hand, reports an even stronger situation than before, and the indicator for the service sector climbed for a third successive month.

Manufacturers report relatively good growth in domestic orders over the past three months, but a decline in export orders, especially in the electronics and automotive industries. Production plans for the next three months also remain somewhat more pessimistic than normal.

The building and civil engineering industry reports an increase in orders over the past three months. Activity has been largely unchanged in homebuilding, whereas civil engineering firms report increased activity. Around six out of ten firms cite shortages of labour as the main obstacle to increased activity, which is a much higher proportion than normal.

Retailers report normal sales growth over the past three months. Their overall view of the current sales situation remains positive and they anticipate healthy sales growth in the coming months.

Firms in the service sector report relatively strong growth in demand over the past three months, and their overall view of activity levels has improved to well above the historical average. Expectations for demand over the next three months are optimistic, and recruitment plans have been revised up somewhat from July.

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For further information:

Maria Billstam, Head of Economic Tendency Surveys +46 8 453 59 04
Sarah Hegardt Grant, Head of Communications +46 8 453 59 11