Consumer confidence improves slightly in Finland despite overall challenges

Consumer confidence in personal finances saw a slight improvement in August, according to Statistics Finland’s monthly confidence indicator. Sentiments improved compared to both July and the same month last year, though they remain at a very low level. Expectations regarding personal and national economic conditions were subdued.

Hyppo’s chief economist Juho Keskinen views this development as a positive sign. “Consumer sentiment remained weak in August as well, but the most challenging phase of confidence issues seems to have been overcome,” he noted.

The Confederation of Finnish Industries reported that business confidence also remained weak in August. The confidence levels declined in retail and construction sectors. However, there was a slight increase in confidence within the manufacturing sector.