|Updated: 27.2.2017 - Next update: 27.3.2017|
Consumer confidence good - purchasing intentions are moderate, however
Consumers confidence in the economy remained unchanged and strong. The consumer confidence indicator stood at 20.8 in February, having been 21.0 in January and 19.5 in December. In last years February, the consumer confidence indicator received the value 7.7. The long-term average for the confidence indicator is 11.8. The data are based on Statistics Finlands Consumer Survey, for which 1,270 people resident in Finland were interviewed between 1 and 16 February.
All the four components of the consumer confidence indicator, that is, expectations of ones own and Finlands economy, general unemployment and the households saving possibilities, remained roughly unchanged in February compared with January. Compared with the corresponding period last year, all the components of the indicator apart from saving possibilities improved clearly.
In February, consumers views were very positive about Finland's economy and the assessment of unemployment development was also optimistic. Likewise, expectations concerning consumers' own economy were positive. Consumers considered their household's saving possibilities good over the next 12 months.
In February, consumers regarded the time favourable for taking out a loan, but not so much for saving or buying durable goods. In February, employed consumers felt personally less threatened by unemployment than usual.
Consumers' own and Finland's economy
In February, 47 per cent of consumers believed that Finlands economic situation would improve in the coming twelve months, while 14 per cent of them thought that the countrys economy would deteriorate. Twelve months previously, the corresponding proportions were 29 and 29 per cent in February.
In all, 29 per cent of consumers believed in February that their own economy would improve while 13 per cent of them feared it would worsen over the year. One year ago the respective proportions were 25 and 15 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.