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Home BUSINESSConsumer confidence increases slightly
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Wed, 28 Jan, 2015 12:03:57 AM
FTimes Report, Jan 28
 
Consumer confidence indicator (CCI). Source: Consumer Survey 2015, January. Statistics Finland.
The consumer confidence indicator stood at 9.9 in January 2014, having been 4.4 in December and 2.6 in November.
 
The long-term average for the confidence indicator is 11.8, according to Statistics Finland’s data based on Consumer Survey.
 
Some 1,272 people resident in Finland were interviewed between 2 and 19 January for the survey.
 
Of the four components of the consumer confidence indicator, expectations on own and Finland’s economy and the situation of unemployment improved slightly in January compared with December.
 
Views on households' saving possibilities remained unchanged. Consumers' views concerning their own and Finland's economy remained cautious and the views about unemployment were still gloomy.
 
By contrast, expectations concerning own saving possibilities were good. For the first time in a long time, consumers regarded the time more favourable for buying durable goods than for saving or raising a loan in January.
 
Consumers' expectations concerning their own and Finland's economy in 12 months' time. Source: Consumer Survey 2015, January. Statistics Finland.
In January, the personal threat of unemployment experienced by employed consumers was roughly at the same level as in December and one year earlier.
 
In January, 27 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 29 per cent of them thought that the country’s economy would deteriorate.
 
The corresponding proportions were 26 and 32 per cent in December and 39 and 21 per cent one year ago.
 
In all, 24 per cent of consumers believed their own economy would improve and 13 per cent of them feared it would worsen over the year, the data show.
 
Consumers predicted that consumer prices would go up by 1.7 per cent over the next 12 months. The predicted inflation rate was 2.7 per cent, and its long-term average is 2.3 per cent.
 
In January, more consumers than on average, or 48 per cent, thought the time was favourable for purchasing durable goods.
 
Sixteen per cent of households were fairly or very certain to buy a car and seven per cent a dwelling during the next 12 months.
 
Eighteen per cent of households were planning to spend money on renovating their dwelling within a year.
 
Some 54 per cent of consumers considered saving worthwhile.
 
In all, 66 per cent of households had been able to lay aside some money and 77 per cent believed they would be able to do so during the next 12 months.
  
In January, 59 per cent of consumers regarded the time good for raising a loan.
 
Nevertheless, only 11 per cent of households were planning to raise a loan within one year, according to the survey.
 

Consumers' views of the economy

  Average 10/1995- Max. 10/1995- Min. 10/1995- 01/2014 12/2014 01/2015 Outlook
A1 Consumer confidence indicator, CCI = (B2+B4+B7+D2)/4 11,8 22,9 -6,5 9,9 4,4 6,0 --
B2 Own economy in 12 months' time (balance) 8,4 14,1 2,3 7,3 5,5 6,7 -
B4 Finland's economy in 12 months' time (balance) 3,2 25,3 -27,1 7,3 -4,6 -2,5 -
B6 Inflation in 12 months' time (per cent) 2,3 4,6 0,6 2,7 2,0 1,7  
B7 Unemployment in Finland in 12 months' time (balance) -3,1 27,6 -51,1 -16,8 -27,6 -24,0 --
B8 Own threat of unemployment now (balance) -0,9 7,6 -18,8 -9,9 -7,5 -8,9 --
C1 Favourability of time for purchasing durables (balance) 18,2 41,8 -14,2 12,9 12,1 19,2 =
C2 Favourability of time for saving (balance) 11,0 36,8 -19,6 8,8 2,4 6,8 -
C3 Favourability of time for raising a loan (balance) 16,8 42,0 -47,1 15,2 11,8 14,3 =
D2 Household's saving possibilities in the next 12 months (balance) 38,9 52,2 10,9 41,9 44,5 44,0 +

Source: Consumer Survey 2015, January. Statistics Finland.

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