The consumer confidence indicator plunged close to zero in July from nearly six in June, and 12 in May.

Finns have less faith in the economy than a year ago, and the figures are also below the long-term average.

Statistics showed that Finns were gloomy about the economy, their own financial positions and the unemployment situation.

In July, nearly half of them believed that the economy would decline, compared to 40 percent in June.

In spite of the pessimism, consumers were still positive about their prospects for building up their savings, with seven out of ten saying they would put something aside for a rainy day.