Confidence in construction companies fell in February.
Business confidence has fallen slightly in February. According to a confidence indicator published by the Confederation of Finnish Industries (EK), confidence in industrial enterprises fell by three points in February from the previous month.
In February, the indicator reading was three points minus, while the corresponding figure was zero in January. The value of the confidence indicator is still close to the long-term average of +1.
“In Finland, business confidence took a bit of a backseat in February. The coming weeks will certainly be difficult due to the acceleration of the corona, but it is all the more important to strive to look beyond the crisis. Succeeding in the pace of vaccination is also the best medicine for the economy, ”says EK’s leading economist Sami Pakarinen in the bulletin.
Especially confidence in construction companies weakened in February. The balance indicator of the confidence indicator was 23 points in the cold. The indicator fell four points from January. The long-term average of the indicator is -7.
The confidence indicator for service companies remained at the January level. The balance reading is -4 points. It is well below the long-term average of +12 points.
Retail confidence fell two points from January. The latest reading of the confidence indicator is -1. The long-term average of the confidence indicator is -1.
“Differences between industries and companies are still large, but as the spring progresses and the disease eases, recovery can be rapid. In construction, confidence continued to erode, despite a record pace in the housing trade. A few steps were taken in industry and retail, but fortunately in the service sectors, confidence remained at the previous month’s level, ”says Pakarinen in EK’s press release.
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source https://pledgetimes.com/trust-business-confidence-fell-in-february-the-coming-weeks-are-sure-to-be-difficult/
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