Business and consumer confidence showed signs of improvement in August
On 26 August, Statistics Estonia published the results of the business and consumer surveys for August. The survey results show that, compared with the previous month, assessments improved slightly among consumers as well as in the four business sectors.
In August, the confidence indicator was still the highest in trade (+15.7) where enterprises saw an improvement in their sales in the last three months and also expected increased sales in the next three months, along with an improved assessment of the volume of stock. At the same time, there was an increase in the share of enterprises who expected a fall in their number of employees in the next three months (-7 percentage points in July, -18.3 percentage points in August).
The confidence indicator was +7.4 for the services sector and +3.6 for the industry sector. The construction sector again had the lowest confidence indicator (-8.6). Similarly to previous months, construction enterprises cited insufficient demand as the main factor limiting activity.
The consumer confidence indicator was -23.6 in August, which is slightly better than in the previous month (-26.1 percentage points in July). Since May, there has been an improvement each month in consumers’ assessment of the household’s financial situation and the general economic situation, both in terms of the current moment and the expectation for the next 12 months. Over the last three months, there has also been an improvement in consumers’ expected spending on major purchases.
Economic confidence indicators
| Consumer confidence indicator | Construction confidence indicator | Industrial confidence indicator | Retail trade confidence indicator | Services confidence indicator | |
|---|---|---|---|---|---|
| May 2026 | -30.8 | -17.1 | -0.9 | 14.0 | -0.1 |
| June 2026 | -29.0 | -12.0 | -3.8 | 20.5 | 3.1 |
| July 2026 | -26.1 | -14.6 | 0.3 | 10.5 | 6.5 |
| August 2026 | -23.6 | -8.6 | 3.6 | 15.7 | 7.4 |
The business and consumer surveys reflect economic confidence in four business sectors and among consumers. A confidence indicator is calculated for each sector based on the survey responses. These indicators are used for economic forecasting and international comparisons, among other things.
The survey data are available to analysts, policymakers, the media and all other users in the statistical database. On our website, there are more detailed descriptions of the methodology of the consumer survey and the business surveys.
The next survey round begins on 1 September. More information about the surveys is available on our website:
The business and consumer surveys are co-financed under the Joint Harmonised European Union Programme of Business and Consumer Surveys, pursuant to the Framework Partnership Agreement BCS-2025-FPA and Specific Grant Agreement BCS-2025-SGA.
When using Statistics Estonia’s data and graphs, please indicate the source.
For further information:
Annaliisa Köss
Media Relations Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 5696 6484
press [at] stat.ee