Consumer sentiment in Finland demonstrated slight improvement in October, as disclosed by recent data from Statistics Finland on Monday, despite remaining within negative territory. Meanwhile, separate insights from the Confederation of Finnish Industries indicated that industrial sentiment persisted as weak but showed no further decline.
The consumer confidence index experienced a modest rise to -6.8 in October, up from -8.1 in September, although it remains significantly lower than the long-term average of -2.6. This data was compiled from a survey of 1,253 participants conducted between October 1 and 17.
Expectations regarding Finland's economic outlook over the next twelve months showed minimal change but have improved compared to a year ago. However, perceptions of both the current personal financial situation and the country's economic prospects remained subdued in October.
Despite this cautious optimism, households still considered October an unfavorable period for purchasing durable goods, although there was an increase in the intent to purchase real estate to average levels. Furthermore, inflation expectations saw a slight uptick, and there remained a palpable concern over the risk of joblessness.
According to the Federation of Finnish Industries, the industrial confidence index remained unchanged at -12.0 in October, lagging behind the long-term average of +1. Expectations for production foresee gradual growth in the forthcoming months, yet order backlogs continue to underperform compared to normal levels.
Nonetheless, business confidence showed slight improvement across other primary sectors, including construction, services, and retail, as highlighted in the survey.
