HELSINKI: Finnish consumer confidence rose to a record high in February while industry confidence stayed buoyant, pointing to a further phase of rapid economic growth.
Finland is recovering from a decade of stagnation and gross domestic product is expected to have grown by around 3 percent last year.
Statistics Finland reported on Tuesday that consumer confidence increased to 25.8 points from 24.2 in January, compared to a long-term average of 12.3.
Industry confidence was unchanged at 15 points, also well above the indicator’s long-term average of 1 point, the Confederation of Finnish Industries said in a separate statement.
Finland’s consumer confidence stands out in the euro zone. The growth is having an impact on employment and also wages,” said Juhana Brotherus, economist at Hypo Bank, also taking a bullish view of 2018.
“The Finnish economy is growing at a pace of 3 percent for a second year now. Exports are kicking in (and) construction activity is high.”
