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Financial News: Finland Consumer Confidence Eases In July

Finland Consumer Confidence Eases In July

07/27/2018 - 04:09:00 (RTTNews)

(RTTNews) - Despite easing for the second straight month, Finland's consumer confidence remained strong in July, figures from Statistics Finland showed Friday.

The consumer confidence index dropped to 22.0 in July from 23.0 in June. However, that was well above the long-term average of 12.5.

In July, 35 percent of consumers believed that Finland's economic situation would improve in the coming twelve months, while 12 percent of them thought that the country's economy would deteriorate.

Consumers' expectation concerning unemployment development improved in July from June and was very bright.

Views concerning one's own and Finland's economy, as well as households' saving possibilities weakened slightly, but were still good.

In July, 45 percent of consumers thought the time was favorable for buying durable goods, while 70 percent of them considered saving worthwhile.

The survey was conducted among 1,042 households between July 2 and 19.

Another survey report released by the Confederation of Finnish Industries EK showed that business confidence indicator of Finnish manufacturing companies remained stable at 14.0.

Among sectors, the morale improved in services and retail trade, while it weakened in construction.

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