FX.co ★ Finland Consumers Slightly Less Pessimistic In July, Business Morale Rises

In July, consumers in Finland exhibited a slightly less negative outlook, according to recent statistics released by Statistics Finland on Monday.

Additionally, data from the Confederation of Finnish Industries showed a degree of resilience in industrial sentiment.

The Consumer Confidence Index increased marginally to -7.2 in July from -7.6 in June, though it still trails significantly behind the long-term average of -2.5. This data was derived from a survey of 1,184 individuals conducted between July 1 and 21.

The survey revealed that consumers' perceptions of both their personal economic situation and the broader Finnish economy remained relatively stable compared to June.

Purchasing intentions remained generally low, as households continued to view the period as unfavorable for acquiring durable goods. After a significant rise in June, the intent to purchase a dwelling has returned to more subdued levels.

Concerns regarding consumer price inflation over the next year remained largely unchanged in July, though they persisted at fairly high levels.

According to the Federation of Finnish Industries, the Industrial Confidence Index improved slightly to -12 in July from -14 in June. Despite this increase, confidence remains well below the long-term average of +1.

Production is anticipated to see a slight decline in the coming months, although order backlogs have improved, they still fall below normal levels.

The survey also noted a rise in business confidence across most major sectors in July, with the exception of retail.