|Updated: 28.8.2017 - Next update: 27.9.2017|
Consumer confidence continued as strong in August
The consumer confidence indicator (CCI) stood at 23.5 in August, whereas in July it was 22.8 and in June 23.9. Last year in August, the CCI received the value 15.7. The long-term average for the CCI is 12.1. The data are based on Statistics Finlands Consumer Survey, for which 1,213 people resident in Finland were interviewed between 1 and 18 August.
Of the components of the CCI, consumers expectations concerning households saving possibilities improved in August from July. In contrast, views on their own economy in general somewhat weakened. Expectations concerning Finlands economy and the development of unemployment remained about the same. Compared with the corresponding period last year, the CCI components improved or stayed at the same level in August.
In August, consumers expectations of Finlands economic situation and unemployment stayed very optimistic. Also estimates on their own economy and saving possibilities were positive in August.
In August, consumers regarded the time favourable for taking out a loan and to some degree also for saving and buying durable goods. Employed consumers felt in August that their personal threat of unemployment had somewhat lessened over the past few months.
Consumers' own and Finland's economy
In August, 49 per cent of consumers believed that Finlands economic situation would improve in the coming twelve months, while 10 per cent of them thought that the countrys economy would deteriorate. The corresponding proportions were 47 and 8 per cent in July, and 39 and 18 per cent one year ago in August.
In all, 26 per cent of consumers believed in August that their own economy would improve and only 12 per cent of them feared it would worsen over the year. In July, the respective proportions were 28 and 9 per cent and twelve months ago 27 and 13 per cent.Statistical release
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.