Consumers in Finland showed a more negative attitude in February amid concerns about inflation, survey figures from Statistics Finland showed on Thursday.
Separate data from the Confederation of Finnish Industries revealed that industrial sentiment improved and remained above the long-term average.
The consumer confidence index dropped to -10.5 in February from -8.7 in January. Moreover, the score is well below the long-term average of -2.8.
The data was collected from 1,201 people between February 1 and 17.
Consumers’ views about Finland’s economy weakened compared to the previous month, the survey said. The opinion regarding one’s own economy at present and expectations concerning consumers’ and Finland’s economy in 12 months’ time were very poor.
During February, the time was considered still very unfavorable for purchasing durable goods, and fewer than usual were planning to buy a dwelling.
Concerns regarding unemployment continued to be fairly gloomy, and inflation expectations rose clearly, and prices would go up by 4.0 percent over the next year.
The industrial confidence index rose to 3.0 in February from 0 in January, the Federation of Finnish Industries said. Moreover, the confidence was slightly above the long-term average of 0.
Production growth is expected to continue broadly in the coming months, and the order books improved from January but remain below average. Business confidence improved in retail trade, while morale weakened in the construction and service sectors.
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