Finnish 2013 Industrial Investment Seen Falling 9%, Survey Shows
Investments will slide to 3.2 billion euros ($4.3 billion) from about 3.5 billion euros last year, according to the report from the Helsinki-based group. The decline will be led by waning investments from large companies in the electronics, forest and metal refining areas, the confederation said.
The northernmost euro member slid into a recession in the second quarter as exporters suffer amid a slump in demand from debt-riddled Europe. Papermaker UPM-Kymmene Oyj (UPM1V) and mobile-phone manufacturer Nokia Oyj (NOK1V) announced job cuts at home yesterday.
The confederation canvassed 239 companies, encompassing about 80 percent of industrial investments.
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