In November, Finnish consumers displayed increased pessimism, according to recent figures released by Statistics Finland on Wednesday. Meanwhile, data from the Confederation of Finnish Industries indicated an improvement in industrial sentiment, although it remained beneath the long-term average.
The consumer confidence index declined to -7.4 in November from -6.8 in October, markedly below the historical average of -2.6. This data was gathered from 1,237 individuals between November 1 and 18.
The survey highlighted that consumers were less optimistic about their current financial situations and had subdued expectations for both their personal economy and Finland's economic outlook. Households viewed November as an unfavorable time for purchasing durable goods, with intentions to buy property also lower than usual.
Additionally, the survey revealed that inflation expectations were still relatively high, and consumers perceived an increased personal risk of unemployment in November.
In the industrial sector, the confidence index improved to -7.0 in November from October's -12.0, as reported by the Federation of Finnish Industries. However, it remained significantly below the long-term average, which stands at +1. Production is anticipated to grow at a slow pace in the coming months, with order backlogs showing improvement but still below normal levels.
Business confidence experienced a boost across most major sectors, except in retail trade.
