|Updated: 27.12.2016 - Next update: 27.1.2017|
Consumer confidence high before Christmas
The consumer confidence indicator (CCI) stood at 19.5 in December whereas in November it was 17.6 and in October 15.8. Confidence in the economy was last this strong in February 2011. Last year in December, the CCI received the value 2.4. The long-term average for the CCI is 11.7. The data are based on Statistics Finlands Consumer Survey, for which 1,205 people resident in Finland were interviewed between 1 and 19 December.
Of the four components of the CCI expectations of ones own and Finlands economy and of the general development of unemployment improved in December from the previous month. Assessments of the households saving possibilities remained unchanged. Compared with the corresponding period last year, all the components improved clearly in December.
In December, consumers views were very positive about Finland's economy and the assessment of unemployment development was also optimistic. In turn, expectations concerning consumers' own economy were still cautious. Consumers nevertheless considered their household's saving possibilities good over the next 12 months.
In December, consumers regarded the time favourable for buying durable goods and especially for taking out a loan but not for saving. The personal threat of unemployment experienced by employed consumers has recently diminished year-on-year.
Consumers' own and Finland's economy
In December, 45 per cent of consumers believed that Finlands economic situation would improve during the next 12 months, while 15 per cent of them thought that the countrys economy would deteriorate. The corresponding proportions were 42 and 16 per cent in November, and pessimistic 24 and 38 per cent one year ago in December.
In all, 27 per cent of consumers believed in December that their own economy would improve and 13 per cent of them feared it would worsen over the year. One year ago the respective proportions were 23 and 16 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.