Finnish consumer confidence in March fell slightly from February but still remained considerably above the long-term average, Statistics Finland said on Tuesday.
The consumer confidence indicator stood at 24.7 in March, down from 25.8 in February, the highest in the data point's 30-year history. The long-term average for the indicator is 12.4.
Statistics Finland said that consumers’ expectations concerning their personal finances, the national economy and the unemployment rate were very bright. Finnish consumers also consider the current period a favourable time to save, the figures show.
Households are exceptionally positive throughout the eurozone and the US as well, says chief economist Juhana Brotherus from mortgage institution Hypo.
“The economic growth is gradually being felt in employment and salaries, and people have more faith in the future,” he said in a press release.
At the same time, business confidence also continues at a solid level, the Confederation of Finnish Industries (EK) said on Tuesday. The lobby group said that confidence in all industrial sectors is high, but particularly strong among manufacturing and service sector businesses.
On the other hand, the January figures for Finland’s GDP -- which showed only slight growth -- and uncertainty in financial markets arising from [US President Donald] Trump’s trade war are warning signs for the economy, said Brotherus.
"Finland’s economy is just recovering and is not ready to ward off an external attack," Brotherus added.