Faroese economic confidence index falls

The Faroese economic confidence index, which measures business and household sentiment, has dropped to 5, well below its long-term average of 14, according to the Faroese statistics agency Hagstovan.

The construction sector expects demand for labour to rise, while households also report an optimistic outlook. Retail trade, however, anticipates a decline in sales. The service sector reports reduced demand but forecasts an increase in the coming year. Manufacturing and production remain pessimistic.