Finland ranks lowest in Nordic consumers' financial confidence

Consumers across the Nordic countries have become less confident about their personal finances this year, with Finland recording the weakest level among the four surveyed countries, according to a survey released Thursday by Danske Bank, reported Xinhua.

The bank's 2026 Financial Peace of Mind survey showed that the index measuring confidence in personal finances declined in all four Nordic countries.

Finland's index fell to 5.8 from 6.0 in 2025, the lowest among the four countries. Norway scored 6.3, down from 6.4, Sweden 6.1, down from 6.2, while Denmark recorded the sharpest decline, falling to 6.2 from 6.5.

Danske Bank said financial confidence across the region had been weighed down by broadly similar factors, including inflation concerns fueled by a surge in oil prices amid the conflict and military tensions in the Middle East. Higher energy costs have added to household living expenses and renewed concerns over inflation across the Nordic countries.

Despite the weaker overall readings, the survey showed that many respondents remained relatively optimistic about their financial situation over the longer term.

In Finland, 27 percent of respondents said they expected their finances to be somewhat or much better in five years. The corresponding shares were 30 percent in Sweden, 25 percent in Norway and 28 percent in Denmark.

Short-term expectations were more subdued. Only 16 percent of Finnish respondents expected their financial situation to improve over the next six months, compared with 22 percent in Sweden and 25 percent in Denmark.

Kaisa Kivipelto, an economist specializing in household finances at Danske Bank, said financial confidence in Finland remained historically weak, even though there had been no major deterioration from last year.

According to the survey, 47 percent of Finnish respondents cited high inflation and rising prices of everyday goods as a major concern. A possible recession or slower economic growth worried 34 percent, while 27 percent cited rising unemployment and the same share pointed to higher interest rates.

Official data showed that Finland's consumer prices rose 2.1 percent year-on-year in July, with petrol, electricity and diesel among the main drivers of inflation, according to Statistics Finland. The country's unemployment rate stood at 10.0 percent in June, while consumers' expectations about unemployment remained pessimistic.

Danske Bank is one of the major financial institutions in the Nordic region. It has conducted the annual Financial Peace of Mind survey since 2018. This year's study, carried out by research company Ipsos, surveyed 5,428 adults in the four Nordic countries in April and June.