The exceptional and challenging year 2022 ended on the positive side in light of the HVAC wholesale statistics. The growth figures already folded in the third quarter, and the fourth quarter was already quite moderate, but with a plus. We are entering the new year with a hazy outlook and all predictions should be treated with great caution in this world situation.
The balance of HVAC wholesale for the entire year 2022 ended up 12,6% over the previous year. At the beginning of the year, growth was brisk, Q1/2022 showed up to 18% growth compared to the corresponding period of the previous year. As the year progressed, the momentum waned and Q4/2022 was only moderately 5,6% better than the previous year.
According to RT's forecasts, the Finnish economy is now slowing down across the board. Confidence in construction also continues to decline, fewer and fewer permits are applied for, and housing sales are expected to freeze. The growth of renovation construction is seen as a bright spot.
Construction is in a downturn, but the economy in general in Finland and the EU has done surprisingly well.
"Previous forecasts have been too pessimistic. According to recent estimates, there would be no EU-level recession. So there are positive signals, but very many indicators are now pointing downward," says Talteka's CEO Ilkka Salo.
The unimaginably brutal and protracted war in Europe and the resulting energy crisis bring great uncertainty to the economy and security.
Additional information:
Ilkka Salo, CEO,
Building Services Industries and Trade
Tel. 040 847 9907 | ilkka.salo@talteka.fi
Attachments:
- wholesale_change_quarterly_Q4-2022
- cumulative_wholesale_Q4-2022
- statistics center_ek_01-2023
Taloteknine teollisuus ja kauppa ry (Talteka) is an economic policy cooperation organization that brings together actors in the field and strives to improve the operating environment of its member companies by taking a stand and influencing industry-related, economic, product, energy, environmental and educational political issues. It is one of the industries of Rakennusteollisuus ry, and its members are the most important equipment manufacturers and wholesalers operating in Finland. Talteka statistics the wholesale sales of HVAC technical products.