Finnish Consumers Optimistic

When researchers asked consumers in December about their outlook for the Finnish economy over the next 12 months, some 51% said that they believed that the situation would improve. According to Statistics Finland, just 8% said they thought the economy would deteriorate.

The finding reflects a slight improvement over the previous month, when 47% said they were optimistic about the economy. At the time, 8% also said that they felt the situation would worsen, Yle reported.

The state agency’s consumer barometer interviewed just under 1,200 respondents for the report. The agency found that consumers were more positive about the national economy, personal finances, and the unemployment situation.

Head economist Juhana Brotherus of specialized mortgage finance institution Hypo said that consumers now appear to have an exceptionally optimistic view of the economy.

“Consumer expectations seem to be sky high when it comes to next year,” Brotherus said in a press statement. The economist said that after years of weak activity, growth in the Finnish economy has been driven by a strong cyclical upswing and commendable expansion of the global economy. He predicted that labor market would also rebound next year and this would also affect consumer confidence.

Meanwhile Finland’s main private sector business lobby EK said Wednesday that the business community was more positive about activity in the industrial and construction sectors.

The organization noted that the industrial confidence index rose to +18 in December, up from +15 in November, representing the highest level since 2007. In the construction sector, the index rose to +13, compared to +10 in November.