People walking in the Sello shopping center in Espoo, Finland. Photo: Emmi Korhonen / Lehtikuva
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Consumer confidence in Finland declined slightly in May, according to new data from Statistics Finland, though expectations for personal finances showed modest improvement.
While overall confidence dropped compared to April, 31 percent of respondents said they expect their personal financial situation to improve this year. In contrast, 16 percent anticipate a decline in their own economic outlook.
Expectations for the broader economy were less optimistic. Only 19 percent of those surveyed believe Finland’s economic situation will improve during 2024.
Business sentiment remained stable, based on data from the Confederation of Finnish Industries (EK). Confidence levels were unchanged in most sectors compared to April.
Service companies reported a marginally improved outlook, while confidence in the industrial sector declined slightly.
Penna Urrila, EK’s Chief Economist, said companies in manufacturing have been affected by global instability and shifting trade policies.
He pointed to uncertainty driven by ongoing changes in international trade, including recent statements from US President Donald Trump about potential tariffs targeting EU imports.
HT
- Next Article Youth housing debt and evictions rise sharply in Finland
Source: www.helsinkitimes.fi
