Skip to content

Consumer confidence dips in May after 4 months of improvement

At the same time, confidence levels among companies were largely unchanged, but the construction industry saw some improvement.

Woman looking at a supermarket's refrigerated section containing vegan products.
May was also not a favourable time for shopping, Statistics Finland reported on Monday. Image: Susanna Pesonen / Yle
Yle News,

A four-month trend of improved consumer confidence levels ended in May, according to Statistics Finland.

The month of May's consumer confidence indicator (CCI) stood at -8.8, while the figure in April was -7.9.

Consumers' expectation about the development of both their own finances as well as the country's improved year-on-year but still remained sluggish, according to the number-crunching agency.

May was also not a favourable time for shopping, Statistics Finland reported on Monday.

EK: Construction sector confidence up

Meanwhile, business lobby the Confederation of Finnish Industries (EK) said in its monthly assessment that confidence among Finnish companies remained unchanged in May.

There was a slight downward trend in the service sector, it said, but there were improvements seen within the construction industry.

Confidence levels among construction industry businesses increased by 19 points in May, compared to the previous month, reaching -9, according to EK's confidence indicator.

The industrial sector saw a slight improvement, while the retail industry encountered minor setbacks.

EK's director, Sami Pakarinen, said that companies are still in a "wait-and-see" position, in terms of confidence figures.

Would you like a roundup of the week's top stories in your inbox every Thursday? Then sign up to receive our weekly email.

Latest: paketissa on 10 artikkelia