Business group declares recession; consumer confidence remains at historic low
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Loading... - Ahmad Salah
- 27 Oct 2022
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Finland's consumer confidence indicator remains close to its lowest level since the index was launched in 1995.
The official statistics bureau said on Thursday that the index was at -17.6 in October 2022, up slightly from September's rock-bottom -18.3.
The September and October figures are the weakest since measuring history began over a quarter-century ago, when Finland was pulling out of its worst-ever recession.
Consumers' expectations concerning Finland's economy over the next year were the grimmest ever. Expectations about personal finances were also weak but up marginally from the previous month. Compared to a year earlier, the overall economic outlook was now clearly dimmer.
A record-low proportion of consumers said they planned to buy big-ticket items or a new home in the near future. Still, most respondents continue to see their own financial situations as good.
And although views in general about unemployment became slightly more pessimistic, most felt that they personally were at a decreased risk of unemployment.
Statistics Finland surveyed just over 1,000 people for the index between 1 and 18 October. Read More...
