The economic outlook became increasingly uncertain this spring and summer, both in Finland and abroad. Unlike the other industries, the metals, engineering and electronics industry has remained impervious to the economic slowdown. The industry's order books in June were on the same level as after the first quarter. New orders and the current order books likewise suggest that no major changes are expected in the second half of the year.

New orders received by electronics and electrotechnics companies in the second quarter were up 7 per cent (in monetary value) from the corresponding period last year. The value of order books at the end of June were at last year's level. Metals and mechanical engineering industry companies increased their order books by 5 per cent from the corresponding period last year.

In metals refining, the demand for steel products and coloured metals has continued to be relatively good in the main market area in Europe. The situation is not expected to change in the second half of the year. Casting demand will be sustained by the relatively strong order books of companies.

No major changes are expected in metals, engineering and electronics industry production in the latter half of the year. The information and telecommunications field has been the main source of industry growth, and is expected to remain the central growth area in future.

The metals, engineering and electronics industry is Finland's biggest industry. Its share of Finland's exports is 56 per cent. It employed more than 212,000 people in 2000. In terms of net sales, the industry's five biggest companies are Nokia, Metso, Outokumpu, Rautaruukki and Wärtsilä.

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