|Updated: 27.9.2017 - Next update: 27.10.2017|
Consumer confidence stable and strong in September
The consumer confidence indicator (CCI) stood at 23.7 in September, having been 23.5 in August and 22.8 in July. Last year in September, the CCI received the value 14.4. The long-term average for the CCI is 12.1. The data are based on Statistics Finlands Consumer Survey, for which 1,214 people resident in Finland were interviewed between 1 and 19 September.
Of the components of the CCI, expectations concerning consumers' own economy improved somewhat in September from August. The other three components remained more or less unchanged. Compared with the corresponding period last year, all the CCI components improved clearly in September.
In September, consumers expectations concerning Finland's economy and unemployment, as well as their households saving possibilities were very optimistic. Consumers assessments about their own economic situation were bright. The confidence in decreasing unemployment has recently been highest in over 15 years.
In September, consumers regarded the time favourable especially for taking out a loan and also for saving and buying durable goods. Employed consumers felt in September that their personal threat of unemployment has decreased clearly in recent months.
Consumers' own and Finland's economy
In September, 46 per cent of consumers believed that Finlands economic situation would improve in the coming twelve months, while only nine per cent of them thought that the countrys economy would deteriorate. In last years September the corresponding proportions were 39 and 19 per cent.
In all, 27 per cent of consumers believed in September 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 26 and 12 per cent, and one year earlier 25 and 14 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.