Financial News: Finland Consumers More Gloomy In April, Business Morale

Finland Consumers More Gloomy In April, Business Morale Weakens

04/29/2024 - 05:23:00 (RTTNews)

(RTTNews) - Finland's consumers expressed a more pessimistic approach in April, survey figures from Statistics Finland showed on Monday.

Separate data from the Confederation of Finnish Industries revealed that industrial sentiment continued to weaken at the start of the second quarter.

The consumer confidence index dropped to -12.6 in April from -9.4 in March. Further, the score is well below the long-term average of -2.5.

The data was collected from 1,211 people between April 1 and 18.

Households' views towards the outlook of Finland's economy in 12 months' time were on a gloomy level. Expectations concerning consumers' own economies, and especially estimates of their own economies at present, were very weak.

Purchasing intentions were generally very low, as households still regarded the time as very unfavourable for buying durable goods. In addition, intentions to spend money on cars and dwellings remained subdued.

The survey showed those households' concerns about consumer price inflation in one year's time continued to drop slightly, though still fairly high.

Expectations regarding the way the country's unemployment rate continued to be gloomy, as 58 percent of consumers believed unemployment would rise.

The industrial confidence index dropped to -17 in April from -13 in March, the Federation of Finnish Industries said. Further, the confidence was well below the long-term average of +1.

Among the main sectors, only the construction sector signalled an increase in April.

Production is expected to decrease in the coming months, while order backlogs have continued to shrink, the survey said.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Business Inventories Edge Down In Line With Estimates In March (02 hr(s), 52 min(s), 04 sec(s) ago)
(RTTNews) - The Commerce Department released a report on Wednesday showing a modest decrease in bu ...Full Story»

U.S. Crude Oil Inventories Fall Much More Than Expected (03 hr(s), 03 min(s), 04 sec(s) ago)
(RTTNews) - Crude oil inventories in the U.S. fell by much more than expected in the week ended Ma ...Full Story»

U.S. Homebuilder Confidence Unexpectedly Slumps In May (03 hr(s), 10 min(s), 04 sec(s) ago)
(RTTNews) - With higher mortgage rates weighing on sentiment, the National Association of Home Bui ...Full Story»

New York Manufacturing Index Unexpectedly Indicates Slightly Faster Contraction (03 hr(s), 33 min(s), 04 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of New York released a report on Wednesday showing regional m ...Full Story»

Ireland Residential Property Price Inflation At 15-Month High (03 hr(s), 38 min(s), 04 sec(s) ago)
(RTTNews) - Ireland's residential property price index increased at the fastest pace in more t ...Full Story»

U.S. Retail Sales Unexpectedly Flat In April Amid Decrease In Auto Sales (03 hr(s), 47 min(s), 04 sec(s) ago)
(RTTNews) - With a decrease in sales by motor vehicle and parts dealers offsetting increases in sa ...Full Story»

Sweden Inflation Slows To 3.9%, Lowest In 27 Months (03 hr(s), 59 min(s), 04 sec(s) ago)
(RTTNews) - Sweden's consumer price inflation softened further in April to the lowest level in ...Full Story»

U.S. Consumer Prices Rise 0.3% In April, Slightly Less Than Expected (04 hr(s), 20 min(s), 04 sec(s) ago)
(RTTNews) - A highly anticipated report released by the Labor Department on Wednesday showed consu ...Full Story»