HELSINKI: Consumers’ confidence in the economy improved in August with the consumer confidence indicator (CCI) at 15.7. The CCI stood at 13.1 in July and 14.9 in June, according to Statistics Finland’s data. Confidence in the economy has last been this strong in May 2015 and prior to that in spring 2011.
Last year in August, the CCI received the value 8.3. The long-term average for the CCI is 11.7 as per the data based on Consumer Survey, for which 1,192 people resident in Finland were interviewed between 1 and 19 August. All four components of the CCI improved slightly in August when compared to July. Expectations concerning their own and Finland’s economy and unemployment improved also and more clearly compared with August 2015. Views on one’s own saving possibilities remained unchanged year-on-year.
In August, consumers’ expectations of Finland’s economic situation were bright. Views on the consumer’s own economy and general unemployment were at long term average levels. Consumers considered their own saving possibilities over the next 12 months good. In August, consumers regarded the time favourable for buying durable goods and especially for taking out a loan but not so much for saving.
The personal threat of unemployment experienced by employed consumers eased to the long-term average level. In August, 39 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.
