Finnish Manufacturing Confidence Improves In April

Confidence in the Finnish factory sector improved from the previous month in April, helped mainly by an improvement in order books and a decrease in the stocks of final goods, data released by the Confederation of Finnish Industries showed Thursday.

The manufacturing confidence index rose to -2 points in April from a revised -5 points in the previous month, but remained below the long-term average of 3 points. Production expectations remained stable during the month, with firms forecasting a slight growth in output.

Finnish retailers were more upbeat about prospects for their businesses in April, with the corresponding index rising to 18 points form 15 points in the preceding month.

Meanwhile, the indicator of confidence in the construction sector dropped to -7 points in April from March's revised reading of -1 point, while the services confidence index declined to 12 points from 15 points.

In a separate announcement, Statistics Finland said that manufacturing turnover in the November- January period increased 3.5 percent from the same period a year earlier. domestic sales grew by 4.7 percent annually, while export turnover rose 2.6 percent during the period.