Finland Consumers Slightly More Pessimistic In June; Business Morale Rises

(RTTNews) - Finland's consumer confidence remained slightly more negative in June, survey figures from Statistics Finland showed on Friday.

Separate data from the Confederation of Finnish Industries revealed that industrial sentiment improved somewhat but continued to remain below the long-term average.

The consumer confidence index dropped to -8.6 in June from -8.4 in May. Moreover, the score is well below the long-term average of -2.7.

The data was collected from 1,235 people between June 1 and 17.

Consumers' estimate of their own economy at present improved slightly compared to the previous month but was still very weak. The survey revealed that expectations concerning one's own economy in 12 months fell from bright to average.

During June, the time was considered very unfavorable for buying durable goods, and intentions to spend money were even lower than before.

Expectations regarding unemployment remained pessimistic in June, and consumers estimated that consumer prices would go up by 4.0 percent over the next year.

The industrial confidence index rose to -9 in June from -11 in May, the Federation of Finnish Industries said. The confidence was below the long-term average of 0.

Production is expected to grow moderately in the coming months, and the order backlog is clearly below its normal level. Business confidence strengthened in the services, while a decline was seen in the construction and retail sectors.