According to figures released by Statistics Finland on Thursday, consumer sentiment in Finland showed less pessimism in June.
Concurrently, the Confederation of Finnish Industries reported a slight decline in industrial sentiment, which remained in negative territory.
The Consumer Confidence Index increased to -7.6 in June from -10.3 in May, still trailing the long-term average of -2.5.
The data was gathered from 1,143 participants between June 1 and June 17.
Households exhibited very weak confidence in their current economic situation and their financial outlook for the next 12 months. Similarly, expectations for the overall economy of Finland were subdued in June.
Purchasing intentions remained notably low, as households continued to view the period as highly unfavorable for buying durable goods. Conversely, there was a significant uptick in intent to purchase dwellings.
While households' concerns about consumer price inflation one year ahead slightly decreased in June, they remained relatively high.
Expectations for Finland’s general unemployment situation remained bleak, with 51 percent of consumers anticipating a rise in unemployment.
The Industrial Confidence Index dipped to -15 in June from -13 in May, markedly below the long-term average of +1, according to the Federation of Finnish Industries.
Production is forecasted to experience a slight decline in the upcoming months, with order backlogs remaining thin in June.
However, an increase was observed in all other subsectors, with retail and services showing more pronounced growth.
