|Updated: 29.8.2016 - Next update: 27.9.2016|
Consumers feel the economic outlook is already bright
Consumers’ confidence in the economy improved in August. The consumer confidence indicator (CCI) stood at 15.7 in August, whereas in July it was 13.1 and in June 14.9. Confidence in the economy has last been this strong in May 2015 and prior to that in spring 2011. Last year in August, the CCI received the value 8.3. The long-term average for the CCI is 11.7. The data are based on Statistics Finland’s Consumer Survey, for which 1,192 people resident in Finland were interviewed between 1 and 19 August.
All four components of the CCI improved slightly in August when compared to July. Expectations concerning their own and Finland's economy and unemployment improved also and more clearly compared with August 2015. Views on one’s own saving possibilities remained unchanged year-on-year.
In August, consumers’ expectations of Finland’s economic situation were bright. Views on the consumer’s own economy and general unemployment were at long term average levels. Consumers considered their own saving possibilities over the next 12 months good.
In August, consumers regarded the time favourable for buying durable goods and especially for taking out a loan but not so much for saving. In August, the personal threat of unemployment experienced by employed consumers eased to the long-term average level.
In August, 39 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 18 per cent of them thought that the country’s economy would deteriorate. The corresponding proportions were 38 and 20 per cent in July, and 30 and 27 per cent one year ago in August.
In all, 27 per cent of consumers believed in August that their own economy would improve and 13 per cent of them feared it would worsen over the year. In July and one year ago the respective proportions were 24 and 14 per cent.
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.