According to a survey conducted by the Confederation of Finnish Industries (EK) in January, Finnish small and medium-sized enterprises estimate that the peak of the current economic cycle seems to have been passed.
Moreover, the companies that replied to EK’s survey believe that a gradual descent from the top of the economic cycle will continue in early 2008 and the summer, even though no major downturn is anticipated.
Compared with large manufacturing companies, most respondents anticipate only modest changes in the outlook during the rest of the winter and spring. According to SMEs, production and employment are expected to continue to rise slightly during the rest of the winter and spring, while the growth rate will remain moderate.
Many SMEs are still facing shortages of skilled labour. Almost one in five respondents in the manaufacturing sector stated that lack of suitable workers was a problem, while nearly one in four respondents in the construction and service sectors reported that they had a shortage.
The Confederation of Finnish Industries EK's business tendency survey is published four times a year. The survey has been conducted regularly since 1966. Nearly 1,000 companies replied to the survey, which was carried out in January.
