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Consumer confidence unchanged in April

29 Apr 2019, 19:16 ( 5 Months ago)

DF Report
DF File Photo.

Consumers’ confidence in the economy has already stayed for about six months on the same moderate level,according to Statistics Finland.

The consumer confidence indicator (CCI) stood at 15.7 in April, having been 16.1 in March and 15.5 in February. The long-term average for the CCI is 12.7. One year earlier in April, the CCI received a clearly higher value, 23.2. The data are based on Statistics Finland's Consumer Survey for which 1,143 persons resident in Finland were interviewed between 1 and 17 April.

Of the four components of the CCI, only consumers’ expectations concerning Finland's economy improved slightly in April compared to March. However, the picture of the country's economic development was still fairly gloomy. However, each of the three other components of the CCI weakened slightly in April. The estimate of one’s own economy still remained reasonable and views on saving possibilities excellent. Expectations concerning the decrease of unemployment were still positive.

Compared with the corresponding period last year, only views on saving possibilities improved in April. The other CCI components deteriorated in a year, expectations concerning Finland’s general economy significantly.

In April consumers considered their household’s financial situation to be very good. Employed consumers felt that their personal threat of unemployment has still decreased somewhat in recent times. The time was regarded very favourable for saving and also good for taking out a loan and buying durable goods. Intentions to spend money on durable goods within one year showed small signs of picking up especially compared to March.

In April, consumers' confidence in the economy was strongest in Greater Helsinki (CCI 17.0) and Northern Finland (16.9) and weakest in Eastern Finland (10.4). Among population groups, upper-level salaried employees were most optimistic (25.0). Pensioners had the gloomiest expectations concerning economic development (4.3).