HELSINKI: The consumer confidence indicator (CCI) stood at 14.4 in September, having been 15.7 in August and 13.1 in July. Last year in September, the CCI received the value 4.2. The long-term average for the CCI is 11.7, according to the data based on Statistics Finland’s Consumer Survey.
A total of 1,202 people resident in Finland were interviewed between 1 and 20 September for the survey. Of the four components of the CCI, only assessments of the household’s saving possibilities weakened in September from August. Views of Finland’s economy and the consumers’ own economy remained almost unchanged and views on unemployment improved slightly. Compared with the corresponding period last year, all the components of the CCI apart from saving improved clearly in September.
Consumers’ expectations concerning Finland’s economy were bright in September. By contrast, consumers’ views on their own economy were rather subdued and the views concerning general unemployment were on the long-term average level. Consumers considered their own saving possibilities good over the next 12 months.
In September, consumers regarded the time favourable for buying durable goods and especially for taking out a loan but not for saving. The personal threat of unemployment experienced by employed consumers was at the long-term average level. In September, 39 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 19 per cent of them thought that the country’s economy would deteriorate. Twelve months previously, the corresponding proportions were 24 and 36 per cent in September.
In all, 25 per cent of consumers believed in September that their own economy would improve and 14 per cent of them feared it would worsen over the year. Altogether 28 per cent of consumers thought in September that unemployment would decrease over the year, while 30 per cent of them believed it would increase. The corresponding proportions were 28 and 33 per cent one month ago and 12 and 61 per cent one year ago.
