Consumer confidence remained unchanged and fairly weak in July, according to Statistics Finland. Photo: Jade Silpo / Lehtikuva
Finland's business sector showed further signs of recovery in July, with confidence improving across manufacturing, construction, services and retail. At the same time, consumer sentiment remained weak as households continued to limit spending and expressed concern about unemployment despite a brighter outlook for the economy.
The findings come from a new survey by the Confederation of Finnish Industries (EK) and Statistics Finland data.
Business confidence strengthened for the second consecutive month. Manufacturing confidence rose from +4 to +7 in July, moving above its long-term average for the first time in several years. Construction recorded the strongest monthly improvement, with its confidence indicator climbing from -17 to -5 after a prolonged downturn. Services edged up from +6 to +7, while retail trade remained stable at +12.
Manufacturers reported that production is expected to continue increasing during the coming months. Order books remained close to normal levels, inventories fell and 68 per cent of companies said they were operating at full production capacity.
