Tue, 28 Jul, 2015 12:01:35 AM FTimes Report, July 28  Consumer confidence indicator (CCI). Source: Consumer Survey 2015, July. Statistics Finland. The consumer confidence indicator (CCI) continued to decline in July 2015, according to Statistics Finland.
The CCI stood at 6.9 in July, having been 10.8 in June and 15.5 in May.
In July, confidence in all four components of the CCI deteriorated from the previous month, as well as from twelve months back.
Last year in July, the CCI received the value 9.4. The long-term average for the CCI is 11.8, as per the data based on Consumer Survey, for which 1,231 people resident in Finland were interviewed between 1 and 17 July.
Consumers' views concerning their own and Finland's economy were cautious and the views about unemployment were gloomy.
Views on the household's saving possibilities were at the long-term average level in July.
In July, consumers regarded the time more favourable for raising a loan than for buying durable goods or, in particular, saving.
Employed consumers felt personally more threatened by unemployment than on average, as was the case also in June and in July 2014.
In July, 33 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 26 per cent of them thought that the country’s economy would deteriorate. The respective proportions in June were 36 and 22 per cent.
Consumers' expectations concerning their own and Finland's economy in 12 months' time. Source: Consumer Survey 2015, July. Statistics Finland. In all, 25 per cent of consumers believed that their own economy would improve while 15 per cent of them feared it would worsen over the year.
Altogether, 47 per cent of consumers thought in July that unemployment would increase over the year, and 17 per cent of them believed it would decrease. The respective proportions in June were 41 and 21 per cent.
Consumers estimated in July that consumer prices would go up by 1.6 per cent over the next 12 months, the data show.
In July 2014, the predicted inflation rate was 2.7 per cent, and its long-term average is 2.2 per cent.
In July, 47 per cent of consumers thought the time was favourable for buying durable goods. Thirty-three per cent of consumers planned on reducing and only 19 per cent planned on increasing their spending on durable goods over the next 12 months.
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. Nineteen per cent of households were planning to spend money on renovating their dwelling within a year.
Saving was considered worthwhile by 55 per cent of consumers in July. In all, 62 per cent of households had been able to lay aside some money and 73 per cent believed they would be able to do so during the next 12 months.
In July, 64 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.
Consumers' views of the economy
Source: Consumer Survey 2015, July. Statistics Finland.
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