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Financial News: Finland Consumer Confidence Strengthens Further

Finland Consumer Confidence Strengthens Further

06/29/2020 - 04:08:00 (RTTNews)

(RTTNews) - Finnish consumers were less pessimistic for a second straight month in June as the country gradually eased its locdown restrictions that were imposed to battle the coronavirus, or Covid-19, pandemic, survey data from Statistics Finland showed on Monday.

The consumer sentiment index rose to -3.9 in June from -9.0 in May.

All four components of the confidence index improved in June compared to the previous month.

Households' expectations concerning Finland's economy increased in June, while views on one's own economy at present were worse. Intentions to spend money on durable goods remained unchanged.

Consumers' view on Finland's economic development remained weak in June and their assessment of their own future situation was in line with the long-term average.

Expectations' regarding the unemployment situation improved in June but still remained gloom, the agency said.

Consumers' expect their own financial situation to be excellent in June.

The data was collected from 1,175 persons resident in Finland between May 1 and 18.

Data from the Confederation of Finnish Industries showed that the manufacturing confidence index rose to -24 in June from a revised -25 in May. The reading was well below the long-term average of +1.

Meanwhile, the construction confidence indicator fell two points to -27 in June. This was below its long-term average of -6.

The service sector confidence indicator rose six points to -40 points in June.

The retail trade confidence increased three points to -11 in May, which was below the long-term average of -1.

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