Financial News: Finnish Consumers More Pessimistic In December, Industrial

Finnish Consumers More Pessimistic In December, Industrial Sentiment Weakens

12/30/2024 - 02:41:00 (RTTNews)

(RTTNews) - Consumers in Finland showed a more pessimistic attitude in December, survey figures from Statistics Finland showed on Monday.

Separate data from the Confederation of Finnish Industries revealed that industrial sentiment weakened slightly and remained below long-term average.

The consumer confidence index dropped to -8.6 in December from -7.4 in November. Moreover, the score is well below the long-term average of -2.6.

The data was collected from 1,270 people between December 1 and 16.

Consumers' views on their own economy at present worsened in December, while expectations regarding their own and Finland's economy in 12 months remained almost unchanged and subdued, the survey said.

During December, households still regarded the time as very unfavorable for buying durable goods, and intentions to spend money on consumption were even lower than before.

The survey showed that inflation expectations remained fairly high, and consumers also continued to remain very pessimistic about the general unemployment situation in the country.

The industrial confidence index fell to -9.0 in December from -7.0 in November, the Federation of Finnish Industries said. Further, the confidence was well below the long-term average of 0.

Production is expected to increase only slightly in the coming months, and order backlog is still remaining below normal.

Business confidence weakened in construction, while the morale strengthened in retail trade, and fairly stable confidence was seen in services.

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