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Consumer confidence in economy remains unchanged in Feb

Published : 28 Feb 2020, 03:17

  DF Report

File Photo Xinhua.

The consumer confidence indicator stood at minus 4.5 in February, having been minus 4.6 in January and minus 4.2 in December, according to Statistics Finland.

In last year’s February, the consumer confidence indicator (CCI) received the value minus 2.4. The long-term average for the CCI is minus 1.7.

The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,041 persons resident in Finland responded between 1 and 18 February.

Of the four components of the CCI consumers’ views of their own economy at present and in the near future weakened somewhat in February compared to January.

Expectations concerning the near future of Finland's economy remained unchanged, but their views of spending money on durable goods improved somewhat. Compared with the corresponding period last year, the components of the consumer confidence indicator weakened apart from intentions to spend money, which remained more or less unchanged.

In February, consumers estimated that Finland’s economic development was weak. Views of their own economy were moderate.

Consumers’ views on the development of the unemployment situation in Finland improved to a good level. The personal threat of unemployment experienced by employed consumers remained on the long-term average level.

In February, consumers considered their own financial situation to be fairly good. The time was regarded favourable for saving and for raising a loan, but not particularly favourable for buying durable goods.