Estonians’ assessment of the economy has improved, while confidence in the construction and trade sectors somewhat declined
Today, on 28 July, Statistics Estonia published the July data of the business and consumer surveys that measure the economic confidence of enterprises and consumers. The results show that the confidence of construction and trade enterprises has declined slightly, while assessments in other sectors and among consumers improved.
In July, the enterprises’ confidence indicator remained the highest in trade (+10.5), although compared with June, trade enterprises have become more cautious in forecasting sales for the next three months. The indicator was +6.5 in the services sector and +0.3 in the industry sector. The confidence indicator remained the lowest in the construction sector (-14.6). As in the previous month, construction enterprises consider insufficient demand to be the main factor limiting construction activity. In addition, compared with June, there has been an increase in the share of enterprises which expect that the number of employees at their enterprise will decrease over the next three months.
The consumer confidence indicator was -26.1 in July, which is somewhat better than in the previous month. At the same time, consumers’ assessments of the financial situation of their household and of the general economic situation improved, both at present and over the next 12 months. The biggest increase was in consumers’ assessment of their ability to make major purchases.
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 Statistics Estonia database provides the survey data to analysts, policymakers, the media and all other interested parties. In addition, a more detailed description of the methodology of the consumer survey and the business surveys is available on our website.
The next survey round begins on 3 August. 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.
For further information:
Annaliisa Köss
Media Relations Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 5696 6484
press [at] stat.ee (press[at]stat[dot]ee)
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