Consumer confidence falls to ever lowest level in Sep

The balance figure of the consumer confidence indicator (CCI) stood at minus 18.3 in September, having been minus 14.9 in August and minus 15.9 in July, according to Statistics Finland.

The September figure is the weakest in the measuring history from 1995 to 2022.

Last year in September, the CCI received the value 6.0. The long-term average for the CCI is minus 1.9.

The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,003 persons resident in Finland responded between 1 and 18 September.

Consumers' views concerning their own economy weakened clearly in September from August and especially from one year ago.

Consumers' expectations concerning their own and Finland's economy in 12 months' time were gloomier in September than ever before. Assessments about consumers’ own and Finland’s economy at present were also very weak.

Intentions to spend money on durable goods were record low. The time was considered the worst ever for shopping. Intentions to buy a dwelling dropped below the average level.

Estimates of inflation at the time of the survey and in 12 months were highest in the measuring history.

In September, consumers continued to regard their own financial situation as good. The picture of both general and personal unemployment improved to a neutral level.

In September, consumer confidence in the economy was strongest in Greater Helsinki (CCI minus12.4). Confidence was weakest in Eastern Finland ( minus 23.3).

Among population groups, upper-level salaried employees were the least pessimistic (minus11.2). Pensioners clearly had the gloomiest expectations concerning economic development in September (minus 29.8).