Consumer confidence rises to long-term average in August

Consumer confidence in Finland improved in August to its long-term average, Yle reports, citing Statistics Finland. The consumer confidence indicator stood at minus 3.0, compared with a long-term average of minus 2.9.

Consumers’ views of their current household finances and of Finland’s economy in a year improved slightly. Expectations for their own finances remained unchanged.

Assessments of the unemployment outlook improved, but people still considered the risk of becoming unemployed to be high in their own case. About 1,110 people living in Finland responded to the consumer confidence survey in August.

Business confidence also improves

Business confidence continued to improve in August, according to the Confederation of Finnish Industries, EK. The biggest gains were recorded in confidence among retailers and service companies. In both sectors, confidence was stronger than the average level across European Union countries.

According to EK, companies’ employment expectations have turned slightly more positive.

Confidence in industry remained similar to the previous month. Confidence in construction declined slightly, but remained at its long-term average level.