Scanfil, a global exporter of industrial electronics, says the markets are showing signs of recovery.

"In our company we are seeing improvement and growth. Of course, we have to admit that the situation has not improved for all of our customers and not all are forecasting an upturn, but some are giving a significant upturn, to which we have to react," said Scanfil CEO Jüri Feirik.

Feirik said he believes the markets will continue to recover, although Trump's tariffs and supply chain issues are creating uncertainty.

"Tariffs provide instability and another issue is material sourcing, where Covid-time stocks are running out and manufacturers are starting to respond to direct orders. Unfortunately, we have to admit that we have a challenge when it comes to the realization of delivery times," Feirik said.

Matek, which produces timber frame houses, also says the situation is somewhat better when compared to last year.

"If last year was a year of stagnation and a strong downturn, at least now customers are starting to enquire again. Some enquiries have also become contracts and people in the factory at least have jobs for the time being," said Sven Mats, Matek's CEO.

Matek's main markets are in Germany and Iceland. According to Mats, there is moderate optimism in both markets and he believes the Scandinavian market could also start to show signs of recovery.

"The likelihood that the construction sector could pick up a little bit in Europe – that belief is absolutely there and we are likely to see some slightly more positive numbers in the second half of this year already," Mats said.

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