Consumer survey 

Updated: 27.7.2017 - Next update: 28.8.2017
   
 
 
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Consumer confidence continued as strong in July

The consumer confidence indicator stood at 22.8 in July, having been 23.9 in June and 24.1 in May. The figures for May to June were the highest in the measuring history 1995 to 2017. Last year in July, the consumer confidence indicator received the value 13.1. The long-term average for the confidence indicator is 12.0. The data are based on Statistics Finlands Consumer Survey, for which 1,158 people resident in Finland were interviewed between 3 and 18 July.

Of the components of the confidence indicator, expectations concerning consumers' own economy improved in July from June. By contrast, views concerning own saving possibilities and Finlands economy weakened slightly. The expectation concerning general unemployment remained unchanged. Compared with the corresponding period last year, all the components strengthened in July.

In July, consumers expectations concerning Finland's economy and unemployment were very optimistic. The confidence in decreasing unemployment has been highest in ten years during summer. Views concerning one's own economy and possibilities to save were also bright in July.

In July, consumers regarded the time very favourable for taking out a loan and also a little for saving and buying durable goods. Employed consumers felt in July that their personal threat of unemployment has decreased somewhat in recent months.

Consumers' own and Finland's economy

In July, 47 per cent of consumers believed that Finlands economic situation would improve in the coming twelve months, while only eight per cent of them thought that the countrys economy would deteriorate. In June, the respective proportions were 50 and nine per cent and in July one year ago 38 and 19 per cent.

In all, 28 per cent of consumers believed in July that their own economy would improve and only nine per cent of them feared it would worsen over the year. One month earlier, the corresponding proportions were 26 and 13 per cent, and one year earlier 24 and 14 per cent.

Statistical release

Source:
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.