Finland Times

 

Consumer confidence indicator (CCI). Source: Statistics Finland.

Consumer confidence has weakened sharply in the country with the indicator standing at 3.7 in the current month, having been at 8.5 in March and at 8.3 in February, according to the Statistics Finland. 

 

Last year in April, the consumer confidence indicator received the value of 6.4. The long-term average for the confidence indicator is 12.1. The data are based on Statistics Finland’s Consumer Survey, for which 1,311 people residing in Finland were interviewed between 1 and 16 April.

 

Consumers' expectations concerning their own and Finland's economy in 12 months' time. Source: Statistics Finland.

In April, confidence in all four components of the consumer confidence indicator weakened slightly from the previous month, as well as from 12 months back. Consumers’ expectations concerning Finland’s and their own economy were subdued and views concerning unemployment were gloomy. Views on own saving possibilities fell to the long-term average level.

 

In April, consumers still thought that the time was more favourable for raising a loan than for saving or especially for buying durable goods. This month employed consumers also felt some personal threat of unemployment.

 

In April, 28 per cent of consumers, however, believed that Finland’s economic situation would improve in the coming 12 months, while slightly more, or 30 per cent, of them thought that the country’s economy would deteriorate. The respective proportions in March were 31 and 26 per cent.