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InstaForex - Official partner of Dragon Racing

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2013.10.2804:22:00UTC+00Finnish Consumer Sentiment Weakens In October

Finland's consumer confidence deteriorated in October after rising in September, mainly due to negative assessment of the unemployment situation in the country, survey data released by Statistics Finland showed Monday.

The headline consumer confidence index dropped to 3.8 in October from 6.3 in September, which was higher than August's score of 5. In October 2012, the reading was -1.6.

The deterioration of overall sentiment was due mainly to increased pessimism among households regarding the development of unemployment. The personal threat of unemployment experienced by employed persons was higher than in previous months.

At the same time, consumers remained downbeat about the future of the Finnish economy, though the degree of pessimism eased slightly from the previous month.

Meanwhile, respondents continued to show confidence in their personal finances, especially saving possibilities. However, the month was not considered favorable for taking out a loan, or, buying durable goods.

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