Sat, 28 Dec, 2013 12:13:47 AM Confidence level is still below long-term average FTimes Report, December 28
The data of the Statistics Finland – released on Friday – said the indicator reached 7.2 in the current month, which was 6.4 in November and 3.8 in October.
The confidence in the economy in December this year was however stronger compared to the stipulated period of the previous year, said the report, adding the index was 3.5 in December 2012.
Consumer confidence indicator (CCI). Source: Statistics Finland. The data are based on Statistics Finland’s Consumer Survey, for which 1,379 people resident in Finland were interviewed between December 2 and December 16.
Of the four components of the consumer confidence indicator, only consumers' already bright views about their own saving possibilities improved in December from the previous month.
Views about the other components remained more or less unchanged. Expectations of Finland’s economic situation and unemployment development, in particular, were still weak and the expectations concerning consumers’ own economic situation were cautious.
In December, consumers thought that the time was more favourable for saving and also more than previously for raising a loan than for buying durable goods.
Consumers' expectations concerning their own and Finland's economy in 12 months' time. Source: Statistics Finland. Employed consumers felt personally some threat of unemployment.
In the month, 31% of consumers believed that Finland’s economic situation would improve during the next 12 months, while 29% thought the country’s economy would deteriorate.
In last year’s December, the corresponding proportions were 23 and 40 percent.
In all, 24% consumers believed in December that their own economy would improve and 13% feared it would worsen over the year.
Consumers' views of the economy
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