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Finland Consumer Sentiment Improves; Industrial Confidence Weakens

Finland's consumer confidence improved marginally and industrial sentiment weakened in May, separate survey results showed on Friday.

The consumer confidence index increased to -11.6 in May from -11.7 in April, Statistics Finland said. The reading improved for the first time in three months.

Only in April 2020 and at the end of 2008, the consumer confidence was weaker than April to May, the agency said.

Data was collected from 1045 persons between 1 to 17 May.

Expectations concerning consumers' own and Finland's economy in 12 months weakened in May. Consumers' assessments about their own economy at present remained subdued.

Consumers' intention to spend money on durable goods within the 12 months decreased.

Estimates and expectations concerning inflation were higher in May.

Separately, data from the Confederation of Finnish Industries showed that the industrial confidence fell to 13 in May from 14 in April. The reading was above the long-term average of 1.

The construction confidence index continued to decline, down eleven points to -15 in May. The reading was above the long-term average of -6.

The services confidence indicator fell one point to 9 in May, while the retail confidence indicator remained unchanged at 0.

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