|Updated: 27.6.2016 - Next update: 27.7.2016|
Consumers believe Finland’s economy will improve
Consumers’ confidence in the economy continued to strengthen in June. In June, the consumer confidence indicator (CCI) stood at 14.9, while in May it was 12.5 and in April 9.8. Last year in June, the CCI received the value 10.8. The long-term average for the CCI is 11.6. The data are based on Statistics Finland’s Consumer Survey, for which 1,194 people resident in Finland were interviewed between 1 and 16 June.
Consumers’ expectations especially concerning Finland’s economy improved from May to June and compared to last year. Expectations concerning the development of unemployment and one’s own economy improved slightly. Views on one’s own saving possibilities remained unchanged.
In June, consumers’ views on their own economy were still cautious but views on Finland’s economy were very bright. Expectations concerning saving possibilities were good and views on general unemployment were close to the long-term average.
In June, consumers regarded the time favourable for taking out a loan and also for buying durable goods but not for saving. In June, the personal threat of unemployment experienced by employed consumers was at the long-term average level.
In June, 47 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 18 per cent of them thought that the country’s economy would deteriorate. The corresponding proportions were 39 and 22 per cent in May and 36 and 22 per cent one year ago in June.
In all, 26 per cent of consumers believed in June that their own economy would improve and 13 per cent of them feared it would worsen over the year.
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.