Business confidence indicators are on a cautious rise and the Confederation of Finnish Industries estimates that the economic recovery is likely to be high. The exception is construction, where confidence is clearly lower. New permits and starts have decreased in the housing sector, although there have been a few isolated positive pieces of news recently. However, the overall picture is bleak.
The figures from the HVAC wholesale statistics reflect the situation. The second quarter (Q2, 2025) is overall 1,5% behind the previous year.
However, there are differences by sector. The heating and water side (HV) is close to the previous year (-0,95%), but the decrease in the air side (I) is greater (-3,7%). A better trend in the LV side usually indicates repairs and/or housing construction, and a drop in the I side typically indicates difficulties in building business premises. The observations of the Finnish Construction Industry RT also support this interpretation.
"The Finnish economy may be turning to growth, but there will be a rush to get to the plus point this year when it comes to building services. However, building services come with a slight delay in the construction process. It is more likely that 2025 will remain at last year's level and the real turnaround will occur next year," says Talteka's CEO. Ilkka Salo.
More information
Ilkka Salo
CEO
ilkka.salo@rt.fi + 358 40 847 9907Finnish Building Services Industries and Trade (Talteka)