Consumer confidence in Finland continued to be weak, although it slightly rose in January compared to the previous month, according to the recent survey figures released by Statistics Finland.
In contrast, data from the Confederation of Finnish Industries highlighted that industrial sentiment climbed to its highest level in eight months in January.
The consumer confidence index was recorded at a less negative -9.1 in January, up from -13.3 in December. However, this score still falls significantly below the long term average of -2.4. These findings are based on data collected from 1,290 participants between January 1 and 18.
The outlook remained largely pessimistic with regard to current individual financial situations, yet prospects for personal finance over the forthcoming year looked more promising.
Purchasing intentions were still considerably low as households viewed the period as extremely unfavorable for acquiring durable items. Furthermore, the intention to purchase property further decreased in January.
The study also revealed that household anxieties concerning consumer price inflation in the coming year remained more or less stable, yet high. The expectations with regard to national unemployment rates remained sombre, despite a minor uptick.
Industrial confidence as per the Federation of Finnish Industries was tracked at -13 in January, improving from -19 in December, but standing substantially below the long-term mean of +1.
All major industries, except construction, were on the uptick in January. However, the forecast anticipates a drop in production and a continued reduction in pending orders in the following months.
