Norwegian consumers have increasing faith in the future, but are more optimistic about the country’s economy than their own.
Confidence is at its highest level since February 2013, according to an index by Opinion. It is especially the optimism in the country’s economy and labor market over the next year that is strengthened through spring and summer.
– There is admittedly still more who believe that the country’s economy will be worse than better in one year, but it has become increasingly less pessimistic and more optimistic since a kind of change of sentiment happened in early summer. Then, the overall confidence index moved from negative to positive, says Henrik Høidahl, senior consultant at Opinion.
The consumer confidence index is increasing for the fifth consecutive month. The index, which measures consumers’ expectations concerning their own and the country’s economy, rose by 1.4 points from July to 6.2 in August.
Optimism about the economy has however had a small bump after rising gradually throughout the spring and summer.
– However, contrary to the belief concerning the country’s economy and labor market, there are several who believe that their own finances will be better than worse about twelve months, says Høidahl.
This insecurity makes several people report that they choose to save. The saving index is at its highest level so far this year, and it shows that many want a buffer if tougher times appear, according to Opinion.
Source: NTB scanpix / Norway Today