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Financial News: Finland Consumer Confidence Improves; Industrial Morale We

Finland Consumer Confidence Improves; Industrial Morale Weakens

10/27/2022 - 04:31:00 (RTTNews)

(RTTNews) - Finland's consumer confidence improved in October, while industrial sentiment continued to fall, separate survey results showed on Thursday.

The consumer confidence index increased to -17.6 in October from -18.3 in September, Statistics Finland said.

The September to October reading was the lowest seen in the entire measuring history from 1995 to 2022, the agency said.

The data was collected from 1011 persons between October 1 to 18.

Consumers' expectations concerning Finland's economy in 12 months as well as those concerning one's own economy weakened. Households' intentions to spend money on durable goods decreased to a record low, and their plans to buy dwelling declined below the average level.

Current inflation estimates reached the highest in history in October.

Separately, data from the Confederation of Finnish Industries showed that industrial confidence fell to -5 in October from -1 in September. The reading was slightly below the long-term average of 1.

The construction confidence index declined three points to -9 in October. The reading was above the long-term average of -6.

The services confidence indicator rose three points to 5 in October. Similarly, the retail confidence indicator improved to -16 from revised -20 in September.

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