In October, enterprises’ confidence improved, while consumers became more pessimistic
On 27 October, Statistics Estonia published the results of the business and consumer surveys for October. Compared with the previous month, confidence has improved slightly in the trade, services and industry sectors. The confidence of construction enterprises remained at the same level as in September, and consumer confidence showed a sharp fall.
In October, the confidence indicator was still the highest in trade (+23, up from +21.1 in September). Compared with the previous month, there was an improvement in trade enterprises’ assessment of their sales in the last three months and their expected sales in the next three months, while the assessment of the current volume of stock was a little more negative.
The confidence indicator for the services sector was +2.7 (+1.2 in September). In October, service enterprises were considerably more optimistic about expected demand in the next three months, but there was a slight deterioration in their assessments of turnover and demand in the last three months. The industrial confidence indicator was +3.5 in October (+1.4 in September). Compared with the previous month, industrial enterprises had a more positive view of current demand as well as stock of finished products. Their assessment of expected production volume in the next three months was similar to September.
The confidence indicator for the construction sector was the same as in September (-3.8). It has steadily been lower than the confidence indicators of other business sectors. Just like in the previous months, construction enterprises cited insufficient demand as the main factor limiting activity.
The consumer confidence indicator was -32.4 in October, which is significantly lower than in September (-23.5). In October, there was a deterioration in consumers’ assessment of the household’s financial situation and the general economic situation, both currently and based on the expectation for the next 12 months. Consumers were also more pessimistic about making major purchases in the next 12 months.
Economic confidence indicators
| Periood | 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 |
| September 2026 | -23.5 | -3.8 | 1.4 | 21.1 | 1.2 |
| October 2026 | -32.4 | -3.8 | 3.5 | 23.0 | 2.7 |
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 2 November. 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.
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For further information:
Kai Kaljumäe
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 5696 6484
press [at] stat.ee (press[at]stat[dot]ee)
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