Expectations of one’s own and Finland’s economy during the year were quite strict, the most pessimistic in the history of research. Respondents estimate their own finances to be weak after a year.
There were very few plans to spend on durable goods in June, and buying was considered the cheapest ever.
Estimates and expectations of inflation rose further. Inflation expectations for the year were higher in June than at any other time in the history of the measurement.
Despite the gloomy outlook, respondents said their current financial situation was still good in June and they did not fear the threat of unemployment or dismissal.
According to the Confederation of Finnish Industries (EK), confidence in the business community also continued to collapse in June. Director of EK Sami Pakarinen pointed out that June was the fourth consecutive month that corporate confidence had weakened.
Only the confidence indicator for service companies rose slightly in June. However, service companies estimate that their general business environment has deteriorated further in recent months, despite rising sales volumes.
Source: The Nordic Page