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Financial News: Finland Consumer, Industrial Confidence Falls In August

Finland Consumer, Industrial Confidence Falls In August

08/27/2020 - 02:39:00 (RTTNews)

(RTTNews) - Finland's consumer and industrial confidence decreased in August, separate surveys data from Statistics Finland and the Confederation of Finnish Industries EK showed on Thursday.

The consumer sentiment index rose to -5.1 in August from -1.6 in July, the statistical office said.

All the four components of the confidence index weakened in August. Expectation on one's own economy were slightly better than last year and intentions to spend money on durable goods remained largely unchanged.

Consumers' perceptions of own economy at present and expectations concerning Finland's economy worsened in August from a year ago.

The data was collected from 1,083 persons resident in Finland between August 1 and 19.

Data from the Confederation of Finnish Industries showed that the manufacturing confidence index rose fell one point to -19 in August from -18 in July. The reading was well below the long-term average of +1.

The construction confidence indicator remained unchanged at -15 in August. This was below its long-term average of -6.

The service sector confidence indicator rose six points to -11 points in August.

The retail trade confidence increased eight points to +2 in July, which was below the long-term average of -1.

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