Finland Consumer Confidence At New Record Low; Industrial Morale Weakens Further
Finland’s consumer confidence weakened to a fresh record low in September, while industrial sentiment continued its falling trend, separate survey results showed on Tuesday.
The consumer confidence index dropped to -18.3 in September from -14.9 in August.
Further, this was the lowest score in the entire measuring history, Statistics Finland said.
The data was collected from 1,003 persons between 1 to 18 September.
The consumer’s opinion of their own economy declined significantly from one year ago in September compared to August.
Households’ expectations concerning their own and Finland’s economy in 12 months’ time were gloomier in September than ever before.
Inflation estimates during the survey period and the subsequent 12 months were the highest in the survey’s history.
Separately, data from the Confederation of Finnish Industries showed that industrial confidence fell to -1 in September from 2 in August. The reading was below the long-term average of 1.
However, production expectations for the coming months are still positive. Order books remained almost at the previous month’s levels and are still above normal levels.
The services confidence indicator dropped from 2 in August to 1 in September. Similarly, the retail confidence indicator fell slightly from -20 to -21.
Meanwhile, the construction confidence index improved further to -6 in September from -16 a month ago.
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