TALLINN — While the euro is not here yet, anticipation for the new currency is getting Estonians more positive about the economy again as it recovers from one of the worst downturns worldwide.

Estonia’s consumer confidence indicator is at its highest level since 2007 and is even beating the country’s historical median, regardless of the fact that [private_supervisor]the typical household’s financial situation and job prospects have not changed for the better in the past six months.

Granted, the number is still below zero but is an improvement from last year. According to Estonian Institute of Economic Research, the confidence indicator has been going up since March 2009, and passed -11, the median rate from 1992 to 2010. The current level of -3 rose by two points since May 2010. The expectation of unemployment indicator showed a significant improvement as only 5 percent of respondents expect the unemployment level to grow in next 12 months. To compare, in March 2009 a solid 54 percent of respondents expected unemployment to grow.

The improved results come as the financial situation of families is not showing much positive change. The results show 36 percent of families say they are expecting to save more than they spend during the next 12 months, yet their ability to save has largely decreased due to high unemployment and decreased income as 51 percent of the families are living month-to-month and 13 percent live on savings or are in deep debt. However, the expectations for personal finances rose from -3 to -1 in June.

Marje Josing, the director of  Estonian Institute of Economic Research told Äripäev that the view on unemployment was the most astounding improvement, especially in light of a dramatic upturn in the jobless rate recently.

“The fear of losing one’s job is a lot lower than a year ago,” Josing said. “The consumers sense the euro adoption and the improvement of the economy and they have evaluated it positively.”

A KPMG Estonia poll released last month showed that Estonian entrepreneurs are expecting growth in the country’s economy, although they are careful about raising wages. [/private_supervisor] [private_subscription 1 month]the typical household’s financial situation and job prospects have not changed for the better in the past six months.

Granted, the number is still below zero but is an improvement from last year. According to Estonian Institute of Economic Research, the confidence indicator has been going up since March 2009, and passed -11, the median rate from 1992 to 2010. The current level of -3 rose by two points since May 2010. The expectation of unemployment indicator showed a significant improvement as only 5 percent of respondents expect the unemployment level to grow in next 12 months. To compare, in March 2009 a solid 54 percent of respondents expected unemployment to grow.

The improved results come as the financial situation of families is not showing much positive change. The results show 36 percent of families say they are expecting to save more than they spend during the next 12 months, yet their ability to save has largely decreased due to high unemployment and decreased income as 51 percent of the families are living month-to-month and 13 percent live on savings or are in deep debt. However, the expectations for personal finances rose from -3 to -1 in June.

Marje Josing, the director of Estonian Institute of Economic Research told Äripäev that the view on unemployment was the most astounding improvement, especially in light of a dramatic upturn in the jobless rate recently.

“The fear of losing one’s job is a lot lower than a year ago,” Josing said. “The consumers sense the euro adoption and the improvement of the economy and they have evaluated it positively.”

A KPMG Estonia poll released last month showed that Estonian entrepreneurs are expecting growth in the country’s economy, although they are careful about raising wages. [/private_subscription 1 month] [private_subscription 4 months]the typical household’s financial situation and job prospects have not changed for the better in the past six months.

Granted, the number is still below zero but is an improvement from last year. According to Estonian Institute of Economic Research, the confidence indicator has been going up since March 2009, and passed -11, the median rate from 1992 to 2010. The current level of -3 rose by two points since May 2010. The expectation of unemployment indicator showed a significant improvement as only 5 percent of respondents expect the unemployment level to grow in next 12 months. To compare, in March 2009 a solid 54 percent of respondents expected unemployment to grow.

The improved results come as the financial situation of families is not showing much positive change. The results show 36 percent of families say they are expecting to save more than they spend during the next 12 months, yet their ability to save has largely decreased due to high unemployment and decreased income as 51 percent of the families are living month-to-month and 13 percent live on savings or are in deep debt. However, the expectations for personal finances rose from -3 to -1 in June.

Marje Josing, the director of Estonian Institute of Economic Research told Äripäev that the view on unemployment was the most astounding improvement, especially in light of a dramatic upturn in the jobless rate recently.

“The fear of losing one’s job is a lot lower than a year ago,” Josing said. “The consumers sense the euro adoption and the improvement of the economy and they have evaluated it positively.”

A KPMG Estonia poll released last month showed that Estonian entrepreneurs are expecting growth in the country’s economy, although they are careful about raising wages. [/private_subscription 4 months] [private_subscription 1 year]the typical household’s financial situation and job prospects have not changed for the better in the past six months.

Granted, the number is still below zero but is an improvement from last year. According to Estonian Institute of Economic Research, the confidence indicator has been going up since March 2009, and passed -11, the median rate from 1992 to 2010. The current level of -3 rose by two points since May 2010. The expectation of unemployment indicator showed a significant improvement as only 5 percent of respondents expect the unemployment level to grow in next 12 months. To compare, in March 2009 a solid 54 percent of respondents expected unemployment to grow.

The improved results come as the financial situation of families is not showing much positive change. The results show 36 percent of families say they are expecting to save more than they spend during the next 12 months, yet their ability to save has largely decreased due to high unemployment and decreased income as 51 percent of the families are living month-to-month and 13 percent live on savings or are in deep debt. However, the expectations for personal finances rose from -3 to -1 in June.

Marje Josing, the director of Estonian Institute of Economic Research told Äripäev that the view on unemployment was the most astounding improvement, especially in light of a dramatic upturn in the jobless rate recently.

“The fear of losing one’s job is a lot lower than a year ago,” Josing said. “The consumers sense the euro adoption and the improvement of the economy and they have evaluated it positively.”

A KPMG Estonia poll released last month showed that Estonian entrepreneurs are expecting growth in the country’s economy, although they are careful about raising wages. [/private_subscription 1 year]

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