Consumer Confidence in Finland Hits Four-Year High
Finland's consumer confidence index rose to -5.3 points in June, the highest level since February 2022, but remains below the long-term average.
Consumer Sentiment in Finland Improves Significantly in June
According to Statistics Finland, the consumer confidence index rose to -5.3 points in June, the highest reading since February 2022. Compared to May (-10.5 points) and April (-12.5 points), confidence has strengthened considerably. A year ago, the figure stood at -8.6 points. Despite the increase, the index remains below its long-term average of -2.9 points.
The main driver of the improvement was more optimistic expectations regarding personal financial situations, particularly the outlook for Finland's economy over the next 12 months. According to statisticians, these expectations have already returned to their long-term average.
However, residents remain cautious about their current financial situation. Moreover, most Finns still consider the time unfavorable for major purchases, although willingness to spend is gradually increasing. Plans to buy a home have also become more common, with this indicator returning to its historical average for the first time in a long while.
Despite some improvement in labor market expectations, fears about unemployment remain high. Only 20% of respondents believe unemployment will decrease in the coming year, while 47% expect it to rise. Among employed Finns, more than a quarter fear losing their jobs or being laid off.
Inflation assessments have also become more moderate. In June, Finns estimated that consumer prices had risen by about 4.8% over the past year and expected inflation of 3.9% in the next year.
Household financial expectations are gradually improving. More than half of respondents said they are already able to save money, and 71% expect to maintain this ability over the next year.
The most optimistic were residents of the Greater Helsinki region, where the consumer confidence index turned positive for the first time, reaching 0.1 points. The most pessimistic assessments were recorded in Eastern Finland (-9.5 points). Among social groups, managers, highly qualified specialists, and entrepreneurs are the most confident, while the unemployed hold the most negative expectations.
The survey was conducted from June 1 to 17, with 1,197 Finnish residents participating.
