|Updated: 27.7.2016 - Next update: 29.8.2016|
Consumers’ confidence in the economy weakened slightly in July
The consumer confidence indicator stood at 13.1 in July, having been 14.9 in June and 12.5 in May. Last year in July, the consumer confidence indicator received the value 6.9. The long-term average for the confidence indicator is 11.6. The data are based on Statistics Finland’s Consumer Survey, for which 1,178 people resident in Finland were interviewed between 1 and 18 July.
Consumers’ expectations of Finland’s economic situation weakened in July compared to June. Views on one’s own saving possibilities and one’s own economy also weakened slightly. In contrast, expectations concerning general development of unemployment almost remained unchanged.
In July, consumers’ views on Finland’s economy were moderate but views on their own economy were still cautious. Expectations concerning saving possibilities were good.
In July, consumers regarded the time more favourable for raising a loan and buying durable goods than for saving. In July, the threat of employment felt by employed consumers was slightly higher than average.
In July, 38 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 19 per cent of them thought that the country’s economy would deteriorate. In June, the respective proportions were 47 and 18 per cent and in July one year ago 33 and 26 per cent.
In all, 24 per cent of consumers believed in July that their own economy would improve while 14 per cent of them feared it would worsen over the year.
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.