Businesses believe the economy has improved this month, but consumers were more pessimistic, data from Statistics Estonia published on Tuesday shows.

Companies have held this view for some time, so the survey results were no surprise to the Ministry of Economic Affairs and Communications. The industrial sector is in its strongest position in four years.

"Of course, major negative events also took place four years ago, and confidence then plummeted. By now, we have climbed out of that hole. However, according to surveys, consumer economic confidence has fallen to its lowest level in six months," said Mario Lambing, chief analyst at the Ministry of Economic Affairs.

Since May, Statistics Estonia has conducted economic confidence surveys instead of the Estonian Institute of Economic Research, and the ministry comments on the results once a quarter.

Vahtras also commented on the results.

"Economic recovery and improvement simply take a little more time; they do not happen overnight. People will feel that things have actually improved for them. And the effects of the income tax reform implemented at the beginning of the year will simply be felt a little later," she said.

High motor fuel prices and the winter heating season have made people more cautious about the future. "If this winter is colder and heating bills rise, the government will discuss how to compensate both private consumers and businesses," the minister added.

Lambing said the change in survey provider has made consumers' opinions more pessimistic.

"One factor is indeed the change in survey provider, but a bigger change may have come from the fact that consumers were now surveyed online instead of by telephone, and these methods can produce different results, even if you ask exactly the same person exactly the same question," he said.

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