2020.05.2708:11:00UTC+00Finland Consumer Confidence Improves In May

Finland's consumer confidence improved in May, survey data from Statistics Finland showed on Wednesday.

The consumer sentiment index rose to -9.0 in May from -13.9 in April.

All four components of the confidence index improved in May compared to the previous month.

Households' expectations concerning Finland's economy increased slightly in May, and intentions to spend money on durable goods in the next 12 months returned to average level.

Consumers' view on Finland's economic development remained gloomy and was close to historical low in 2008 to 2009. Consumers' view on their own future situation was slightly below the long-term average in May.

Expectations' regarding the unemployment situation improved in May but still remained gloom, the agency said.

Consumers' expect their own financial situation to be excellent in May.

The data was collected from 1,175 persons resident in Finland between May 1 and 18.

Elsewhere, data from the Confederation of Finnish Industries showed that the manufacturing confidence index fell to -26 in May from -23 in April. The reading was well below the long-term average of +1.

Meanwhile, the construction confidence indicator rose four points to -24 in May. This was below its long-term average of -6.

The service sector confidence indicator rose two points to -46 points in May.

The retail trade confidence climbed 23 to -13 in May, which was below the long-term average of -1.