News Karnataka
Thursday, September 29 2022
Europe

Finland: Consumer confidence drops to historic low

Consumer confidence in Finland drops to historic low
Photo Credit : IANS

Helsinki: In June, consumer confidence in Finland dropped to its lowest level since records began in 1995, according to government figures.

“In June 2022, the balance figure of the consumer confidence indicator (CCI) was -14.3, while in May, it was -11.6 and April -11.7,” Xinhua news agency quoted Statistics Finland as saying on Monday.

In the same month of last year, the CCI stood at 4.6.

The long-term average for the CCI is -1.8.

According to the survey, 74 per cent of consumers said that the country’s economy is worse off now than it was a year ago, and 27 per cent thought the same of their own economic conditions.

Furthermore, 58 per cent expected the country’s economy to decline further.

The data are based on Statistics Finland’s Consumer Confidence Survey, to which 990 persons resident in Finland responded between June 1-15.

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