Business and consumer confidence on the rebound

10.02.2021 - 07:10
Business and consumer confidence on the rebound
Faroese consumers and industry have a higher overall degree of confidence in the economy than they did last summer

For about three years prior to the Covid pandemic, the so-called Economic Sentiment Indicator (ESI) was relatively steady.

However, it dropped significantly from January 2020 to June 2020 (from 32 to minus 16). The latest ESI figures shows that the figure has risen by 7 points to minus 9 compared to the June 2020 figure.

The ESI tracks overall economic activity and outlook, calculated as a composite indicator of five separate confidence indicators for consumers, retail trade, industry, construction and services.

See more at Statistic Faroe Islands’ website.


Read the Faroese version of this article here

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