|Updated: 27.6.2017 - Next update: 27.7.2017|
Consumer confidence remains strong – own economy more worrisome
In June, the consumer confidence indicator (CCI) stood at 23.9, while in May it was 24.1 and in April 21.5. The figures for May to June are the highest in the measuring history 1995 to 2017. Last year in June, the CCI received the value 14.9. The long-term average for the CCI is 12.0. The data are based on Statistics Finlands Consumer Survey, for which 1,161 people resident in Finland were interviewed between 1 and 16 June.
The components of the CCI did not change considerably in June compared to May. Expectations concerning consumers' own economy have, however, weakened gradually since spring. Correspondingly, views concerning Finland's economy and general unemployment already show over a twelve-month rising trend. Compared with the corresponding period last year, all the CCI components improved in June.
In June, consumers views concerning Finland's economy and unemployment were very bright. The confidence in decreasing unemployment was highest in ten years and the views on Finlands economy were the best in seven years. Views concerning possibilities to save were also optimistic. Expectations concerning consumers' own economy were at the long-term average level in June.
In June, consumers regarded the time very favourable for taking out a loan and also a little for saving and buying durable goods. Employed consumers felt in June that their personal threat of unemployment has decreased clearly in recent months.
Consumers' own and Finland's economy
In June, 50 per cent of consumers believed that Finlands economic situation would improve in the coming twelve months, while only nine per cent of them thought that the countrys economy would deteriorate. Twelve months previously, the corresponding proportions were 47 and 18 per cent in June.
In all, 26 per cent of consumers believed in June that their own economy would improve and 13 per cent of them feared it would worsen over the year. One month earlier these proportions were 27 and 12 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.