|Updated: 27.5.2016 - Next update: 27.6.2016|
Consumer confidence strongest in a year
Consumers confidence in the economy improved in May. In May the consumer confidence indicator (CCI) stood at 12.5, while in April it was 9.8 and in March 10.4. In last years May the CCI received the value 15.5. The long-term average for the CCI is 11.6. The data are based on Statistics Finlands Consumer Survey, for which 1,227 people resident in Finland were interviewed between 2 and 19 May.
Consumers expectations concerning Finlands economy and unemployment, as well as their own saving possibilities improved in May compared to April. In contrast, views on ones own economy weakened slightly. In May, consumers views on their own saving possibilities and Finlands economy were bright, their views on their own economy were cautious and on unemployment still fairly gloomy.
In May, consumers regarded the time favourable for taking out a loan and a little also for buying durable goods but not for saving. In May, the personal threat of unemployment experienced by employed consumers decreased to the long-term average level.
Consumers' own and Finland's economy
In May, 39 per cent of consumers believed that Finlands economic situation would improve in the coming twelve months, while 22 per cent of them thought that the countrys economy would deteriorate. In April, the respective proportions were 35 and 24 per cent and twelve months ago in May 42 and 17 per cent.
In all, 26 per cent of consumers believed in May that their own economy would improve and 14 per cent of them feared it would worsen over the year. In April, these proportions were 28 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.