|Updated: 27.7.2015 - Next update: 27.8.2015|
Consumer confidence continued to decline in July
The consumer confidence indicator (CCI) stood at 6.9 in July, having been 10.8 in June and 15.5 in May. Last year in July, the CCI received the value 9.4. The long-term average for the CCI is 11.8. The data are based on Statistics Finlands Consumer Survey, for which 1,231 people resident in Finland were interviewed between 1 and 17 July.
In July, confidence in all four components of the CCI deteriorated from the previous month, as well as from twelve months back. Consumers' views concerning their own and Finland's economy were cautious and the views about unemployment were gloomy. Views on the household's saving possibilities were at the long-term average level in July.
In July, consumers regarded the time more favourable for raising a loan than for buying durable goods or, in particular, saving. In July, employed consumers felt personally more threatened by unemployment than on average, as was the case also in June and in July 2014.
Consumers' own and Finland's economy
In July, 33 per cent of consumers believed that Finlands economic situation would improve in the coming twelve months, while 26 per cent of them thought that the countrys economy would deteriorate. The respective proportions in June were 36 and 22 per cent.
In all, 25 per cent of consumers believed in July that their own economy would improve while 15 per cent of them feared it would worsen over the year.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.