The Institute of Economic Research publishes monthly economic barometers and according to the January data, consumer confidence rose by three points compared with December, moving from -26 to -23. In January of last year, the index stood at -39.

Confidence among industrial enterprises, which is based on entrepreneurs' forecasts for production, overall demand and inventories of finished goods, also improved: rising from -14 in December to -8 in January. A year ago, the figure was -10.

The construction barometer improved slightly. The confidence indicator for construction companies, which factors in the order book and employment forecasts, came in at -10 in January, compared with -11 in December and -29 in January last year.

The retail confidence indicator, which takes into account sales over the past three months, current inventory levels and sales forecasts for the next three months, declined by one point to -16 in January. A year ago, it was -26.

The service sector barometer, which reflects service sales, demand and balance, rose from -4 points in December to -1 in January. In January of last year, it was -9.

The survey sample included 1,000 respondents who were interviewed online.

According to the institute's overview of the last quarter of the previous year, Estonia's economic climate had somewhat improved in December, based on assessments at the time. Expectations for the next six months also improved, though experts still saw a lack of international competitiveness as the primary obstacle to Estonia's economic development.

Experts' assessments from December also indicated that consumer confidence had begun to recover and uncertainty was declining. While the general state of the economy was not considered good, people were less pessimistic about the future.

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