13.08.202012:27:00UTC+00Norway Consumer Confidence Improves In Q3

Norway's consumer confidence improved sharply in the third quarter, data from Finans Norge showed on Thursday.

The consumer confidence index increased to -5.7 in the third quarter from -16.7 in the previous quarter.

On an adjusted basis, consumer confidence fell to -6.6 in the third quarter from -3.4 in the previous three months.

Households' expectation on their own finance for the next year improved in the third quarter. Households' expectation on country's economy for the next 12 months remained positive.

Households that are not affected by the redundancies due to Covid-19 felt that they have control over their own finances.

"The fall in interest rates has contributed to many having increased purchasing power, and this positive effect probably overshadows the signals of an almost zero settlement in this autumn's wage negotiations," Finans Norge's CEO Idar Kreutzer said.

Households' expectation on the country's economy for last year was less negative in the third quarter. Their expectation on own finances for the past year improved.