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Financial News: Finland Consumer Confidence Weakest Since April 2020; Indu

Finland Consumer Confidence Weakest Since April 2020; Industrial Morale Stable

04/27/2022 - 05:01:00 (RTTNews)

(RTTNews) - Finland's consumer confidence weakened to the lowest since April 2020, and industrial morale remained unchanged in April, separate survey results showed on Wednesday.

The consumer sentiment index decreased -11.7 in April from to -10.5 in March, Statistics Finland said.

Only in April 2020 and in the end of 2008, the consumer confidence was weaker than in April, the agency said.

Data was collected from 1,009 persons between April 1 and 18.

All the four components weakened in April. Expectations concerning consumer's own economy and Finland's economy worsened.

Expectations concerning inflation were at the highest in the survey history.

Separately, data from the Confederation of Finnish Industries showed that the manufacturing confidence index remained unchanged at 15 in April. The reading was above the long-term average of 1.

The construction confidence indicator fell to -4 in April from 3 in March. The reading was above the long-term average of -6.

The service sector confidence indicator weakened to 11 in April from 12 in the previous month.

The retail trade confidence rose six points to 0 in April from -6 in the prior month, which was above the long-term average of -1.

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