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Financial News: Finland Consumer Confidence At Record Low; Industrial Mora

Finland Consumer Confidence At Record Low; Industrial Morale Weakens

06/27/2022 - 05:15:00 (RTTNews)

(RTTNews) - Finland's consumer confidence weakened to a record low in June, while industrial sentiment worsened slightly, separate survey results showed on Monday. 

The consumer confidence index decreased to -14.3 in June from -11.6 in May, Statistics Finland said. 

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

The data was collected from 990 persons between 1 to 15 June. 

Expectations concerning consumers' own and Finland's economy in 12 months decreased in June.

Consumers' view regarding their own economy weakened to its lowest since 1995. 

Consumers' assessments of their own economy at present also worsened in June, and there was very little intention for consumers to buy durable goods.    In June, inflation expectations for 12 months were higher than ever before. 

Separately, data from the Confederation of Finnish Industries showed that industrial confidence fell to 10 in June from 13 in May. The reading was above the long-term average of 1. 

The construction confidence index continued to decline, down three points to -18 in June. The reading was above the long-term average of -6. 

The services confidence indicator rose two points to 11 in June, while the retail confidence indicator lost three points and stood at -3.

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