2020.11.2706:56:00UTC+00Finland Consumer Sentiment, Industrial Confidence Improve In November

Finland's consumer and industrial confidence improved in November, separate surveys data from Statistics Finland and the Confederation of Finnish Industries EK showed on Friday.

The consumer sentiment index rose to -4.8 in November from -6.9 in October, the statistical office said.

Among the four components, the indexes for expectations on one's own economy and for Finland's economy improved slightly in November.

Meanwhile, views on consumers' own economy at present weakened in November and consumers' intentions to spend money on durable good fell slightly.

The data was collected from 1,157 persons resident in Finland between November 1 and 18.

Elsewhere, data from the Confederation of Finnish Industries showed that the manufacturing confidence index rose one point to -14 in November from -15 in October. The reading was well below the long-term average of +1.

The construction confidence indicator remained unchanged at -16 in November. This was below its long-term average of -6.

The service sector confidence indicator remained unchanged at -11 points in November.

The retail trade confidence increased four points to -3 in November, which was below the long-term average of -1.

"Due to the second wave of the coronavirus, it is likely to be very difficult 3-4 months and there is no information on how long the recovery from this winter will last in the economy," Sami Pakarinen, the leading economist at EK, said.