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Finland Consumer Confidence Rises Slightly; Business Morale Weakens


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Finland’s consumer confidence improved somewhat in November, but households still feel gloomy about their own economic conditions, survey figures from Statistics Finland showed on Monday.

The industrial sentiment weakened for the ninth straight month in November, separate data from the Confederation of Finnish Industries revealed.

The consumer confidence index rose to -16.9 in November from -17.6 in October.

The latest all three monthly figures were the weakest in their measuring history from 1995 to 2022, the agency said.

The data was collected from 1,002 persons between November 1 to 17.

Consumers’ assessments of their own economy at present were the gloomiest ever. However, expectations about the economy improved slightly from the previous month.

Households’ intentions to spend money on durable goods decreased to a record low, as they considered this time to be the worst time ever for shopping and raising a loan.

The survey revealed the highest inflation estimates in the survey’s history, but a small decline in expectations.

The industrial confidence index lost two points to -7 in November from -5 in October, the Confederation of Finnish Industries said.

The construction confidence index declined three points to -12 in November. The reading was above the long-term average of -6.

The services confidence indicator fell to 1 November from 5 in the prior month. Meanwhile, the retail confidence indicator improved to -12 from -16.

*Norway Oct Retail Sales -5.0% On Year Vs. -3.8% In September

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