Finland Consumer Confidence Rises Slightly; Business Morale Weakens

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Consumer Product Safety Commission or CPSC announced recall of thousands of children's Robes made in China and sold exclusively on Amazon.com by various companies. The recalled robes fail to meet the federal flammability standards for children's sleepwear, posing a risk of burn injuries to children. Further, citing the same concerns, Paper Cape children's pajamas manufactured in Peru ... Health services company Cigna Corp. reported Friday higher profit in its fourth quarter reflecting growth in both Evernorth and Cigna Healthcare segments. Adjusted earnings and topline beat market estimates. Looking ahead for fiscal 2023, the company projects adjusted earnings and adjusted revenues to be higher than last year, but below market view. French drug major Sanofi SA reported Friday higher profit in its fourth quarter with strong revenue growth mainly with strong sales of Dupixent. Looking ahead for fiscal 2023, the company projects higher business earnings, but the expected growth is slower than recorded in fiscal 2022. Sanofi shares were losing around 4 percent in the morning trading in Paris as well as in pre-market activity...
Follow RTT