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Finnish consumers' confidence is growing

28/05/2009

Consumers' confidence in the economy grew clearly stronger in May. In May the consumer confidence indicator stood at 7.2, while in April it was 1.0 and in March -1.5. At its lowest in December 2008 the confidence indicator was -6.5. Confidence in the economy was negative from October 2008 to March 2009 and before that during the recession years of the early 1990s. The data are based on Statistics Finland's Consumer Survey, for which 1,459 people resident in Finland were interviewed between 4 and 18 May.

Consumers' confidence in all four components of the consumer confidence indicator improved from the previous month in May. After a long period of negative views, expectations on Finland's economy returned to clearly positive levels. Estimates concerning the development of unemployment improved as well but remained at a gloomy level. In addition, many employed experienced a personal threat of unemployment in May.

Source: FInland Statistics