Finland Consumer, Industrial Confidence Improve In July

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Finland’s consumer and industrial confidence improved in July, separate surveys data from Statistics Finland and the Confederation of Finnish Industries EK showed on Monday.

The consumer sentiment index rose to -1.6 in July from -3.9 in June, the statistical office said. The index rose for a third straight month.

Among the four components of the confidence index, expectation on one’s own and Finland’s economy strengthened in July. Intention to spend money on durable goods also increased.

Households’ expectations concerning the current personal finance situation remained unchanged. Consumers’ continued expect their own financial situation to be excellent in July.

Expectations’ regarding the unemployment situation improved in July, but still remained gloom, the agency said.

The data was collected from 1,034 persons resident in Finland between July 1 and 19.

Data from the Confederation of Finnish Industries showed that the manufacturing confidence index rose seven points to -17 in July from -24 in June. The reading was well below the long-term average of +1.

The construction confidence indicator increased twelve points to -15 in July. This was below its long-term average of -6.

The service sector confidence indicator rose twenty points to -18 points in July.

The retail trade confidence increased five points to -5 in July, which was below the long-term average of -1.

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