Estonian business confidence improves as consumer sentiment declines

According to data released by Statistics Estonia on October 27, business confidence in the trade, service, and industrial sectors improved slightly compared to the previous month. The trade sector maintained the highest confidence indicator at +23.

In contrast, consumer confidence saw a significant decline, dropping to -32.4 from -23.5 in September. Consumers reported worsening views regarding their personal household finances and the national economic situation, both for the current period and the upcoming 12 months.

Sector-specific details show that while the service sector saw an improvement in demand expectations for the next three months, the construction sector's confidence remained stagnant at -3.8, with insufficient demand cited as the primary constraint.