|Updated: 27.11.2014 - Next update: 29.12.2014|
Consumer confidence still weak and consumption intentions bland
The consumer confidence indicator stood at 2.6 in November, having been 0.4 in October and -0.7 in September. One year ago in November the consumer confidence indicator received the value 6.4. The long-term average for the confidence indicator is 11.9. The data are based on Statistics Finlands Consumer Survey, for which 1,254 people resident in Finland were interviewed between 3 and 19 November.
Of the four components of the consumer confidence indicator, expectations concerning own saving possibilities and Finland's economy and unemployment, improved slightly in November compared with October. In contrast, views on ones own economy remained unchanged. In November, the views on Finland's economy were, however, still gloomy and on one's own economy cautious, while the expectations concerning saving possibilities were good.
Consumers regarded the time more favourable for raising a loan than for saving or in particular for buying durable goods in November. The personal threat of unemployment experienced by employed persons was slightly higher in November than in October.
Consumers' own and Finland's economy
In November, 25 per cent of consumers believed that Finlands economic situation would improve in the coming twelve months, while 36 per cent of them thought that the countrys economy would deteriorate. In October the respective proportions were 21 and 35 per cent and twelve months ago 33 and 26 per cent.
In all, 23 per cent of consumers believed in November that their own economy would improve and 16 per cent of them feared it would worsen over the year. One year ago, the respective proportions were 25 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.