Financial News: Finland Consumers Less Pessimistic In October; Manufacturi

Finland Consumers Less Pessimistic In October; Manufacturing Confidence Remains Stable

10/28/2024 - 02:46:00 (RTTNews)

(RTTNews) - Consumers in Finland showed negative but improved confidence in October, survey figures from Statistics Finland showed on Monday.

Separate data from the Confederation of Finnish Industries revealed that industrial sentiment remained weak and stable.

The consumer confidence index rose to -6.8 in October from -8.1 in September. However, the score is well below the long-term average of -2.6.

The data was collected from 1,253 people between October 1 and 17.

Consumers' expectations concerning Finland's economy in 12 months' time remained almost unchanged but improved from twelve months back, the survey said. Views on consumers' own economy at present and expectations concerning Finland's economy were still fairly weak in October.

During October, households still regarded the time as very unfavorable for buying durable goods, while intentions to buy a dwelling increased to the average level.

The survey showed that inflation expectations rose slightly, and consumers felt that their personal threat of unemployment was relatively high.

The industrial confidence index held steady at -12.0 in October, the Federation of Finnish Industries said. Moreover, the confidence was well below the long-term average of +1.

Production is expected to increase slowly in the coming months, and order backlogs still remained below normal.

Business confidence improved slightly across all other main sectors, namely construction, services, and retail, the survey said.

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