|Updated: 27.12.2017 - Next update: 29.1.2018|
Consumer confidence remained steady to the end of the year
The consumer confidence indicator stood at 24.0 in December whereas in November it was 23.0 and in October 23.1. Last year in December, the consumer confidence indicator received the value 19.5. This years average for the indicator was record high, 22.9. The long-term average for 1995 to 2017 is 12.2. The data are based on Statistics Finlands Consumer Survey, for which 1,185 people resident in Finland were interviewed between 1 and 15 December.
Of the four components of the consumer confidence indicator expectations of consumers own and Finlands economy and of households saving possibilities improved slightly in December from November. In turn, estimates of the development of unemployment weakened a bit. Compared with the corresponding period last year, all the components of the indicator apart from saving possibilities improved clearly.
In December, consumers expectations concerning Finland's economy and unemployment were very bright. Consumers assessments about their own economic situation and saving possibilities were also good.
In December, consumers regarded the time very favourable for taking out a loan and for saving. Buying of durable goods was also considered worthwhile. Employed consumers felt in December that their personal threat of unemployment has decreased much in recent months.
Consumers' own and Finland's economy
In December, 51 per cent of consumers believed that Finlands economic situation would improve during the next 12 months, while only eight per cent of them thought that the countrys economy would deteriorate. In November, the corresponding proportions were 47 and 8 per cent, and in December last year 45 and 15 per cent.
In all, 30 per cent of consumers believed in December that their own economy would improve and 11 per cent of them feared it would worsen over the year. One month earlier, the corresponding proportions were 28 and 11 per cent, and one year earlier 27 and 13 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.