Consumers' confidence in economy falls in Aug

The consumer confidence indicator (CCI) stood at 21.5 in August, which was 22.0 in July and 23.00 in June, according to Statistics Finland.

Last year in August, the consumer confidence indicator received the value 23.5. The long-term average for the CCI is 12.6.

The data are based on Statistics Finland’s Consumer Survey, for which 1,138 people resident in Finland were interviewed between 1 and 17 August.

Of the four components of the consumer indicator, consumers’ expectations of the household’s saving possibilities improved clearly in August compared to July. Views concerning own saving possibilities and Finland’s economy weakened slightly, but remained at a good level.

Expectations concerning Finland’s economy weakened clearly over the one-year review period. Compared with the corresponding period last year, estimates of the country’s employment situation have weakened. However, views on one's own economy grew moderately.

Consumers considered their household’s financial situation good in August. The time was regarded favourable for saving, but also good for taking out a loan and buying durable goods. Employed consumers felt in August that their personal threat of unemployment has decreased somewhat.