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Financial News: Finland Consumer Confidence Rises; Industrial Morale Weake

Finland Consumer Confidence Rises; Industrial Morale Weakens Further

08/29/2022 - 03:11:00 (RTTNews)

(RTTNews) - Finland's consumer confidence improved for the first time in three months in August, while industrial sentiment continued its falling trend, separate survey results showed on Monday.

The consumer confidence index rose to -14.9 in August from -15.9 in July, which was the lowest seen in the entire measuring history, Statistics Finland said.

The data was collected from 976 persons between 1 to 18 August.

Consumers' assessments of their own current economic conditions and expectations about the future improved in August compared to July.

Meanwhile, households' views on future expectations of Finland's economy weakened notably in August, with the sentiment falling to the gloomiest in the survey's history.

Estimates concerning inflation at the time of the survey and in twelve months rose to their highest in measuring history, the survey said.

Separately, data from the Confederation of Finnish Industries showed that industrial confidence fell to 2 in August from 9 in June. Nonetheless, the reading was above the long-term average of 1.

The services confidence indicator lost 7 points from July to 2 in August. Similarly, the retail confidence indicator fell sharply from -3 to -19.

Meanwhile, the construction confidence index recovered somewhat in August, by rising to -16 from -21.

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