Manufacturing orders grow by 66.7% in May

The value of new orders in manufacturing in May grew by 66.7 per cent from 12 months ago, according to Statistics Finland data.

The strong growth is caused by a number of large orders in the metal industry. In January to May, orders grew by 21.9 per cent from the year before.

The growth was strongest in the metal industry, where the value of orders was as much as 99.3 per cent up on the year before. In the metal industry, orders increased particularly due to the large number of new orders in the shipbuilding industry.

In the chemical industry, new orders grew by 24.2 per cent year-on-year. The value of new orders received by the manufacturing industry of paper, and paper and board products increased by 6.4 per cent from one year ago.

However, orders declined by 0.7 per cent in the textile industry from the previous year.

The index of new orders in manufacturing describes development in the value of new orders received by enterprises for commodities and services that are meant to be produced by establishments located in Finland.