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Financial News: Finland Consumer Confidence At Record Low In April

Finland Consumer Confidence At Record Low In April

04/27/2020 - 05:08:00 (RTTNews)

(RTTNews) - Finland's consumer confidence hit a record low in April, amid sharp declines in almost all components, survey data from Statistics Finland showed on Monday.

The consumer sentiment index fell to -13.9 in April from -7.1 in March. In February, the score was -4.5.

The latest score was the most dismal in the measuring history of 1995-2020 of consumer confidence, the agency said.

All four components of the CCI weakened sharply in April and of this, three were near their record lows seen in 2008-2009.

Those sub-indexes were for households' expectations concerning their own and Finland's economy in 12 months, and intentions to spend money on durable goods in the next 12 months.

Consumers' continued to view their own financial situation to be still excellent in April. However, they were downbeat regarding saving possibilities in the next few months, taking out a loan and buying durable goods now.

That said, many in April were still thinking of buying a dwelling and taking out a loan in the next 12 months.

Perceptions regarding the employment situation were gloomy and the fear of unemployment in future was the worst ever, the agency said.

The data was collected from 1,134 persons resident in Finland between April 1 and 19.

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