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Finnish consumer optimism increases but optimism on employment remains extremely low.

Monday, 27 February 2012
Consumers' confidence in the Finnish economy increases, according to latest official data.

Statistic Finland reports based on a recent survey that confidence is now at the highest level since last summer. The confidence indicator, which measures consumer confidence in the economy showed an index of 8.3 in February.

It has not been this confident in the Finnish economy since July 2011. In January the figure was 3.4 and in December last year, 0.4. Confidence Indicator switches between -100 and +100, the higher, positive number, the brighter the view on the economy.

Statistic Finland accounts four bright areas in its report. They are the view from personal finances and saving possibilities and expectations for general economic development in Finland and unemployment.

Despite the better economic outlook, employment situation remains gloomy. Almost one in three Finns or 29 percent of respondents believe that the economic situation will improve, while almost as many, 30 percent believe their economies will deterioration. Approximately one in four Finns or 24 percent of respondents believe that their own economy would improve while 15 percent believe it would worsen.

Views on unemployment remain bleak. Nearly every interviewee, or 49 percent, believed that unemployment will rise. Many are still optimistic in their ability to save, which is 63 percent of respondents. About half, 54 percent considered it advantageous to take out a loan now. A year ago that share was 65 percent.
Statistic Finland interviewed 1521 Finns in the survey during the beginning of February.
By Scancomark.se Team

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