Survey: Finns’ confidence in economy weakening

Nearly half of respondents say they are postponing buying or renovating apartments or holiday homes due to rising interest rates and the global political situation.

Feelings of economic uncertainty are increasing among people in Finland, according to the results of a survey commissioned by lobby group Finance Finland (FFI).

Some 45 percent of respondents said they had postponed or entirely abandoned their investment plans due to an increase in prices, rising interest rates and the global political situation.

The examples of postponed purchases cited by respondents included the renovation of an apartment or the purchase of a new holiday home.

The younger age groups and women were more likely to respond that they had shelved their plans.

However, nearly half of respondents to the survey said they were progressing with their spending plans despite the other factors.

A majority also said that the Covid pandemic had a greater impact on their consumer habits than Russia’s invasion of Ukraine.

The FFI survey was carried out by pollster Norstat, which queried around 2,000 people in April.

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