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The credibility of the production of Finland increased

29 May 2019

The credibility of the production of Finland increased

Statistics Finland has published the latest data showing that consumer confidence last month fell by 1.8 points, slightly more than in April. At the same time, expectations of households in relation to the domestic economy over the past year have become more stable. In addition, concerns about unemployment also fell, with increasing savings opportunities for residents.

Meanwhile, households have not changed their intentions to spend money on products long-term use, due to the increased confidence in manufacturing in the state, as evidenced by the official figures of the Confederation of Finnish industries. Therefore, manufacturers were able to stabilise their performance on the unit. Parallel to this the construction sector rose two points from the previous month to +5, what is perceived by analysts as a significant increase.

The service sector is only marginally affected after a positive attitude decreased to 12. Retail trade steadily remains at the same position, without any changes from the previous month. Yet analysts are not sure what changes will be in these areas in a few weeks.