Finnish consumer confidence hits record high in May; industry also rising

Finnish consumer and industry confidence rose in May from the previous month, data published on Monday showed.

Consumer confidence increased to a record high 24.1 points in May from 21.5 points in April, Statistics Finland (SF) said. The long-term average for the indicator is 11.9 points.

A gauge of industry confidence rose to +8 points from +4 points in April, the Confederation of Finnish Industries said in a separate statement. The long-term average is +1 point.

The Nordic member of the euro zone is recovering from a decade-long stagnation sparked among other things by a decline of Nokia’s former phone business, rigid labour markets and recession in neighbouring Russia.

Originally reported by Reuters.

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