In March, industrial production experienced a decline, with Statistics Finland attributing this decline to factors such as labor disputes and maintenance shutdowns. Seasonally adjusted industrial production dropped by 3.9 percent from the previous month, while the overall industrial production decreased by 7.7 percent from a year ago. The decrease in production was evident in almost all main industries, with the electricity, gas, heating, and air conditioning maintenance industry and the forest industry being the most affected. The only sectors to see growth were mining and quarrying, as well as the food industry.
Labor disputes had a significant impact on the forest industry, while maintenance shutdowns led to decreased production in the electricity, gas, heating, and air-conditioning maintenance industry. The value of new orders in industry also saw a decline of about 19 percent in March compared to the previous year. In addition to these challenges, companies in the technology industry are facing thin order flows and high personnel costs due to labor disputes.
The order base and personnel survey released by Teknologiateollisuus ry highlighted these challenges faced by the technology industry. Despite these difficulties, companies have slightly improved expectations for future demand stimulation based on optimism over a potential drop in interest rates. However, it is uncertain when this reduction will occur or what its impact will be on the real economy.
Overall, while there are some positive signs of growth in certain sectors such as mining and quarrying and food production
