consumer sentiment In Finland, it remains in a garbage dump.
Statistics Finland revealed on Wednesday that the consumer confidence index for December was -13.3, down 0.9 points from November. Consumer mood is hurt by concerns about personal finances, the national economy and the risk of unemployment.
The long-term average value of this indicator is -2.4.
Statistics Finland highlights that consumers are now more pessimistic about their financial situation than at any time since 2000, with more than a third of consumers saying their financial situation is worse than it was a year ago. I rate it as being worse than that. Although their expectations for the general employment situation remain bleak, their assessment of the personal risk of unemployment is well above normal.
Despite gradual improvement since autumn, people’s views on the national economy remain gloomy. More than two-thirds of consumers estimate that the domestic economy is worse than it was a year ago, and only five people estimate that the economy will improve in the next 12 months. It was less than 1 (18%).
Confidence in the economy was strongest in metropolitan areas, but weakest in eastern Finland.
Although the confidence index remains significantly low, it has improved from its record low of -18.5 in December 2022, the high point of a dramatic deterioration triggered by Russia’s invasion of Ukraine.
The Confederation of Finnish Industry (EK) on Wednesday released the results of its latest business confidence survey, reflecting both emerging optimism and deep-seated concerns. Sami PakarinenEK’s directors claimed that the fact that confidence indicators have risen in all major industries is further evidence that business confidence is above its lowest point.
“We haven’t seen a situation like this in quite some time, with confidence indicators rising across all major industries. The last time we had a situation like this was in October 2021,” he said. Ta.
However, the emerging optimism among businesses does not translate into economic growth, as confidence indicators continue to show that economic growth is clearly weaker than expected.
“In addition to restoring confidence, lower interest rates are having a positive impact as they increase demand in the economy. At the same time, we need to bear in mind that investment vulnerabilities will continue to drag the economy down for a long time.” “There is,” Pakarinen said.
Aleksi Teivainen – HT