Finnish 2013 Industrial Investment Seen Falling 9%, Survey ShowsKasper Viita
Fixed investment by industrial companies in Finland will slide 9 percent in 2013 after the nation fell into a recession last year, a survey from the Confederation of Finnish Industries showed.
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 and mobile-phone manufacturer Nokia Oyj announced job cuts at home yesterday.
The confederation canvassed 239 companies, encompassing about 80 percent of industrial investments.