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Tue, 28 Apr, 2015 12:06:53 AM
FTimes Report, April 28
 
Consumer confidence indicator (CCI). Source: Consumer Survey 2015, April. Statistics Finland.
Consumers’ confidence in the economy remained unchanged in April, according to Statistics Finland.
 
Of the four components of the consumer confidence indicator, expectations on own and Finland’s economy and of unemployment improved slightly in April compared with March.
 
By contrast,  assessments concerning household's saving possibilities weakened but remained, nevertheless, bright, the data show.
 
The consumer confidence indicator stood at 11.4 in April, having been 11.2 in March and 10.6 in February.
 
Consumers' expectations on their own economy have improved evenly since October 2014. In April, the expectations were at their highest since May 2011.
 
Last year in April, the consumer confidence indicator received the value 3.7. The long-term average for the confidence indicator is 11.8 as per the statistics based on the consumer survey for which 1,310 people resident in Finland were interviewed between 1 and 17 April.
 
In April, consumers regarded the time more favourable for raising a loan than for buying durable goods or, in particular, saving. The employed consumers felt personally somewhat less threatened by unemployment than in March.
 
Thirty three per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 21 per cent of them thought that the country’s economy would deteriorate.
 
The corresponding proportions were 30 and 25 per cent in March and 28 and 30 per cent one year ago in April.
 
In all, 28 per cent of consumers believed in April that their own economy would improve, while 11 per cent of them feared it would worsen over the year.
 
Twelve months earlier the corresponding proportions were 22 and 15 per cent.
 
Altogether, 42 per cent of consumers thought in April that unemployment would increase over the year, and 20 per cent of them believed it would decrease.
 
Consumers' expectations concerning their own and Finland's economy in 12 months' time. Source: Consumer Survey 2015, April. Statistics Finland.
The corresponding proportions were 47 and 17 per cent in March and 58 and 12 per cent one year ago.
 
Twenty per cent of employed persons reckoned in April that their personal threat of unemployment had grown over the past few months and 14 per cent thought it had lessened.
 
Forty-six per cent of employed persons thought the threat had remained unchanged and 19 per cent felt that they were not threatened by unemployment at all.
 
Consumers predicted in April that consumer prices would go up by 1.2 per cent over the next 12 months.
 
In April 2014, the predicted inflation rate was 2.4 per cent, and its long-term average is 2.2 per cent.
 
Forty seven per cent of consumers thought the time was favourable for buying durable goods. Fifteen per cent of households were fairly or very certain to buy a car and seven per cent a dwelling during the next 12 months.
 
Twenty-three per cent of households were planning to spend money on renovating their dwelling within a year.
 
Altogether, 50 per cent of consumers regarded the time favourable for saving in April. In all, 64 per cent of households had been able to lay aside some money and 76 per cent believed they would be able to do so during the next 12 months, according to the data.
 
In April, 68 per cent of consumers regarded the time good for raising a loan. Eleven per cent of households were planning to raise a loan within one year.
 

Consumers' views of the economy.

 

  Average 10/1995- Max. 10/1995- Min. 10/1995- 04/2014 03/2015 04/2015 Outlook
A1 Consumer confidence indicator, CCI = (B2+B4+B7+D2)/4 11,8 22,9 -6,5 3,7 11,2 11,4 =
B2 Own economy in 12 months' time (balance) 8,4 14,1 2,3 4,2 8,5 10,7 +
B4 Finland's economy in 12 months' time (balance) 3,2 25,3 -27,1 -2,5 1,2 5,0 =
B6 Inflation in 12 months' time (per cent) 2,2 4,6 0,6 2,4 1,3 1,2  
B7 Unemployment in Finland in 12 months' time (balance) -3,3 27,6 -51,1 -25,5 -16,2 -12,5 -
B8 Own threat of unemployment now (balance) -1,0 7,6 -18,8 -9,3 -8,7 -2,8 -
C1 Favourability of time for purchasing durables (balance) 18,2 41,8 -14,2 1,9 17,2 18,6 =
C2 Favourability of time for saving (balance) 10,9 36,8 -19,6 3,7 3,3 -0,1 -
C3 Favourability of time for raising a loan (balance) 16,9 42,0 -47,1 10,6 22,2 26,1 +
D2 Household's saving possibilities in the next 12 months (balance) 39,0 52,2 10,9 38,7 51,0 42,2 +

Source: Consumer Survey 2015, April. Statistics Finland.

 
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