Consumer survey 

Updated: 29.4.2013 - Next update: 27.5.2013
   
 
 
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Consumers confidence in the economy weakened in April

The consumer confidence indicator stood at 6.4 in April, having been 10.2 in March and 9.6 in February. This April, confidence in the economy was at a lower level than one year earlier and also weaker than the long-term average. The data are based on Statistics Finland's Consumer Survey for which 1,442 persons resident in Finland were interviewed between 2 and 18 April.

All four components of the consumer confidence indicator fell in April compared with March. Views on households' saving possibilities weakened most. Consumers' views concerning their own economy, as well as Finland's economy and the development of unemployment were more pessimistic than the long-term average. By contrast, although weakened, assessments concerning their own saving possibilities still remained fairly bright.

In April, employed consumers felt that their threat of unemployment decreased slightly compared with March. Consumers regarded the time more favourable for raising a loan than for buying durable goods or saving.

In April, 29 per cent of consumers believed that Finlands economic situation would improve in the coming twelve months, while 30 per cent of them thought that the countrys economy would deteriorate. In March, the corresponding proportions were 33 and 24 per cent and in last year's April 35 and 25 per cent.

In all, 24 per cent of consumers believed in April that their own economy would improve while 14 per cent of them feared it would worsen over the year.

Statistical release

Source:
Statistics Finland / Consumer survey

Description of indicator

The Consumer Survey is a telephone interview survey by means of which it is possible to measure Finns’ images of the general economic development and the financial situation of one's own household and intentions to make major purchases, save money or take out a loan.

The consumer confidence indicator is the average of the balance figures for the CCI components. The balance figures and the confidence indicator can range between -100 and +100 – the higher (positive) balance figure, the brighter the view on the economy.