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Home BUSINESSConsumer confidence in economy still weak
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Wed, 28 Aug, 2013 03:50:11 AM
FTimes Report, August 28
Photo Lehtikuva
Consumers’ confidence in the economy is still weak with the consumer confidence indicator remaining unchanged at 5.0 in August compared to the previous month, according to the data of Statistics Finland’s Consumer Survey.
 
In June, the consumer confidence indicator was 8.1. In August, the confidence in the economy was 0.5 higher than the corresponding month of the previous year, but clearly below the long-term average of 12.3.
 
The Statistics Finland’s data are based on the consumer survey for which 1,450 people resident in Finland were interviewed between August 1 and 19.
 
None of the four components of the consumer confidence indicator changed considerably in August compared to the previous month. Consumers’ expectations of Finland’s economic situation and, in particular, on the development of unemployment were still pessimistic in August.
 
Consumers' assessments about their own economic situation also remained guarded. By contrast, consumers still considered their own saving possibilities as good.
 
Consumers did not regard saving, raising a loan or purchasing durable goods very worthwhile in August. There were no changes in the employed consumers' feelings about their personal threat of unemployment in August.
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