Finnish new orders grow at weaker pace in September

Finland’s new orders came in the weakest in the past six years in the month of September. The nation registered a rise of 3.2 percent year-on-year in September. The new orders were expected to have grown by around 10 percent for two reasons, noted Nordea Bank. Firstly, the previous two months were quite promising and secondly the point of comparison was the weakest order month in over six years, said Nordea Bank.

The new orders report released today places September 2016 amongst the three weakest months in 2016 and into the bottom five since early 2010, stated Nordea Bank.

Also, shipyards have recorded huge orders in the late summer and in this autumn. It appears that none of the orders have been recorded in the official data. Orders for ship would have greatly contributed to the monthly order flow. It would have led to 50 percent change or more.

Thus, the bottom line is that there have been no improvements in new orders yet. Orders of ship might still be recorded in the rest of 2016, added Nordea Bank.