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Fri, 28 Aug, 2015 01:44:28 AM FTimes Report, Aug 28  Consumer confidence indicator (CCI). Source: Consumer Survey 2015, August. Statistics Finland. The consumer confidence indicator (CCI) stood at 8.3 in August, whereas in July it was 6.9 and in June 10.8.
The CCI received the value 2.2 in August last year. The long-term average for the CCI is 11.8, according to the data based on Statistics Finland’s Consumer Survey.
Of the four components of the CCI, only assessments of the household’s saving possibilities improved in August from July.
Views of Finland’s economy and unemployment became slightly gloomier and views on the consumers' own economy remained almost unchanged.
In August, belief in own saving possibilities was good while belief in other components of the CCI was weak as per the findings.
In August, consumers regarded the time fairly favourable for taking out a loan and for a change also for buying durable goods but not so much for saving.
The employed consumers felt personally more threatened by unemployment than on average, as was the case also in July and one year ago.
In August, 30 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 27 per cent of them thought that the country’s economy would deteriorate.
The corresponding proportions were 33 and 26 per cent in July, and pessimistic 23 and 38 per cent one year ago in August.
In all, 24 per cent of consumers believed in August that their own economy would improve and only 15 per cent of them feared it would worsen over the year.
Altogether 50 per cent of consumers thought in August that unemployment would increase over the year, and 14 per cent of them believed it would decrease.
The corresponding proportions were 47 and 17 per cent in July, and 62 and 10 per cent one year ago.
Twenty per cent of employed persons reckoned in August that their personal threat of unemployment had grown over the past few months and 12 per cent thought it had lessened.
Twenty per cent of employed persons felt that they were not threatened by unemployment at all.
Consumers predicted in August that consumer prices would go up by 1.5 per cent over the next 12 months.
Consumers' expectations concerning their own and Finland's economy in 12 months' time. Source: Consumer Survey 2015, August. Statistics Finland. The predicted long-term average inflation rate is 2.2 per cent, the data show.
In August, 48 per cent of consumers thought the time was favourable for buying durable goods. Last year in August, the corresponding estimate was 38 per cent.
More households than usual 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, according to the survey.
Altogether, 55 per cent of consumers considered saving worthwhile in August. Sixty-eight per cent of them had been able to lay aside some money and as many as 81 per cent believed they would be able to do so during the next 12 months.
A total of 1,284 people resident in Finland were interviewed between 3 and 19 August for the survey.
In the long term, the average share of households that have saved or think they will be able to save is 59 and 74 per cent, respectively.
In August, 62 per cent of consumers regarded the time good for raising a loan. Nevertheless, only 12 per cent of households were planning to raise a loan within one year.
Consumers' views of the economy
Source: Consumer Survey 2015, August. Statistics Finland. More News
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