Finland’s consumer sentiment stable in August

Finland’s consumer confidence indicator held steady at -7.2 in August, matching July’s figure and improving slightly from -8.0 a year ago.

This figure remains well below the long-term average of -2.5, based on responses from 1,204 Finnish residents surveyed between August 1 and 18.

Consumers’ views of their personal financial situation showed slight improvement compared to both July and last year, though expectations for the Finnish economy in the coming year have weakened.

Currently, 26 per cent of consumers felt their personal economic situation is weaker than a year ago, while 24 percent viewed their personal economy as stronger compared to the previous year.

According to the data, 60 percent of consumers believed that Finland’s economic situation had worsened over the same period, and only 10 per cent view it as better.

Expectations for Finland’s economic outlook are subdued, with only 22 per cent anticipating improvement over the next year and 36 per cent expecting further decline. The job market remains a concern, with 56 per cent of consumers predicting an increase in unemployment and only 14 per cent expecting a decrease.

Inflation expectations have slightly decreased, with consumers estimating a 5.0 per cent rise in prices from last year and a 3.8 per cent increase over the next year.

Spending on durable goods remains low, with just 12 per cent considering it a good time for such purchases. Intentions to buy durable goods, cars, or homes are modest, reflecting cautious consumer sentiment.

Overall, while there is a slight improvement in personal financial outlook, broader economic concerns and inflation pressures continue to weigh heavily on consumer confidence in Finland.