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Financial News: Finland Consumer Confidence Eases Further

Finland Consumer Confidence Eases Further

08/27/2018 - 02:25:00 (RTTNews)

(RTTNews) - Finland's consumer confidence dropped for the third straight month in August, though remained strong, figures from Statistics Finland showed Monday.

The consumer confidence index dropped to a 16-month low of 21.5 in August from 22.0 in July. However, that was well above the long-term average of 12.6.

Households' expectations about the general economic situation of the country over the next twelve months weakened in August. The corresponding index fell to 10.4 from 11.7 in July.

Similarly, the index measuring their own financial situation over the next year slid to 10.2 from 10.9.

45 percent of consumers thought in August that unemployment would decrease over the year, while only 15 percent of them believed it would increase.

Consumers predicted in August that consumer prices would go up by 2.0 per cent over the next 12 months.

Altogether, 71 percent of consumers considered saving worthwhile in August, while 44 percent of them though the time was favorable for buying durable goods.

The survey was conducted among 1,138 households between August 1 and 17.

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