Consumers and firms have become more optimistic about economic conditions in Finland, according to freshly-published surveys.
The consumer confidence index rose this month to its highest level since February 2022, when Russia began its full-scale invasion of Ukraine, Statistics Finland reports.
The index rose to -5.3, up from -10.5 in May, and up from -8.6 in June last year. That’s a marked improvement, but still well below the long-term average of -2.9.
Consumers' expectations for their personal finances and the national economy rose to the long-term average, but assessments of the current state of their own finances remained weak.
The share of people planning to buy a home also rose to the long-term average, but most respondents said that this is not a good time for buying high-ticket durable goods.
Respondents had somewhat brighter views of the jobs situation, but the personal threat of unemployment was still considered very high.
The results are based on a poll of nearly 1,200 residents of Finland between 1 and 17 June.
Companies feeling more bullish
Meanwhile the economic confidence of the Finnish business sector strengthened in June, according to the Confederation of Finnish Industries (EK).
Confidence improved in services, retail and construction. Nevertheless, the balance figure for the construction indicator is still clearly below the long-term average.
The industrial confidence indicator remained at the previous month's levels.
According to EK economist Jouko Kangasniemi, production expectations are bullish, especially in manufacturing.
