Financial News: Finnish Consumers Less Pessimistic In November; Manufactur

Finnish Consumers Less Pessimistic In November; Manufacturing Morale Weakens

(RTTNews) - Consumers in Finland showed a less negative attitude in November, survey figures from Statistics Finland showed on Thursday.

Separate data from the Confederation of Finnish Industries revealed that industrial sentiment improved somewhat but remained below the long-term average.

The consumer confidence index rose to -6.5 in November from -7.6 in October. However, the score is well below the long-term average of -2.8.

The data was collected from 1,273 people between November 1 and 18.

Consumers' views on their own economy at present remained very weak, and their expectations concerning the general economic situation in the country over the next twelve months continued to hold subdued, the survey said.

During November, households still regarded the time as very unfavorable for buying durable goods, and intentions to buy a dwelling were also very low.

The survey showed that inflation expectations remained fairly high, and consumers felt that their personal threat of unemployment was also elevated in November.

The manufacturing confidence index fell to -6.0 in November from -4.0 in October, the Federation of Finnish Industries said. Nonetheless, the confidence was well below the long-term average of 0.

Production is expected to increase somewhat in the coming months, and order backlogs remain lower than average.

Business confidence strengthened in services and retail trade segments, while the construction confidence barely changed since October.

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