27.09.202308:14:00UTC+00Finland Consumers More Pessimistic In September, Business Morale Weakens

Finland's consumer confidence continued to remain negative in September to the weakest level in six months, survey figures from Statistics Finland showed on Wednesday.

Separate data from the Confederation of Finnish Industries revealed that industrial sentiment worsened in September, as a downward trend in confidence was shown across main industries.

The consumer confidence index came in at -11.5 in September versus -8.0 in the previous month. Further, the latest score was also well below the long-term average of -2.3, the agency said.

The data was collected from 1,166 people between September 1 and 18.

Consumers' views concerning their own economy at present and also expectations concerning one's own and Finland's economy in 12 months' time were still at a very weak level, the agency said.

Purchasing intentions were generally very low, as households still regarded the time as very unfavorable for buying durable goods. In addition, intentions to buy and renovate the dwelling were the lowest in many years.

The survey showed that inflation expectations in one year's time were nearly unchanged and high in September, as in the previous months.

Expectations regarding the way the country's unemployment rate might change became significantly more pessimistic, the survey said.

The industrial confidence index worsened to -21 in September from -19 in August, the federation of Finnish Industries said. Further, the confidence was well below the long-term average of +1.

Production is expected to decrease in the coming months, and order backlogs have continued to fall.

The survey revealed that confidence remained unchanged only in retail trade, and a downward trend in other main industries.