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Home BUSINESSConsumers’ confidence on economy ups
Tue, 28 Jan, 2014 12:03:38 AM
FTimes-STT Report, January 28
File photo of one euro and 50 cent coins and ten euro note. Photo - Lehtikuva.
The consumer confidence indicator stood at 9.9 in January from 7.2 in December last year and 6.4 in November last year.  
The confidence in the economy was stronger in January than one year ago (4.5) but still somewhat below the long-term average (12.2), according to the data based on Statistics Finland’s consumer survey.
A total of 1,322 residents in Finland were interviewed during January 2-20 January for the survey.
Consumer confidence indicator (CCI). Source: Statistics Finland.
Of the four components of the consumer confidence indicator, expectations concerning Finland’s economy and the development of unemployment strengthened clearly in January compared to December.
By contrast, assessments concerning own saving possibilities weakened, but still remained bright. 
Consumer views on their own financial situation were almost unchanged, remaining cautious.
Even though expectations concerning general employment development improved in January, the personal threat of unemployment experienced by employed persons remained unchanged from December.    
In January, 39% of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 21% thought the country’s economy would deteriorate, the survey found. 
Consumers' expectations concerning their own and Finland's economy in 12 months' time. Source: Statistics Finland.
The corresponding proportions were 31% and 29% in December and 29% and 32% one year ago in January.
In all, 26% consumers believed in January that their own economy would improve and 14% feared it would worsen over the year. 
One year ago these proportions were 23% and 15%, the data shows.  
Altogether, 17% consumers thought in January that unemployment would decrease over the year, while 47% believed it would increase. 
In January, the non-response rate of the consumer survey was 43.7%, according to Statistics Finland.   
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