Finland Times

 

Consumer confidence indicator (CCI). Source: Consumer Survey 2015, December. Statistics Finland.

Consumers’ confidence in the economy weakened slightly in December, according to Statistics Finland.

 

The consumer confidence indicator (CCI) stood at 2.4 in December whereas in November it was 4.7 and in October 1.3.

 

The CCI received the value 4.4 in December last year.  The long-term average for the CCI is 11.7 as per the data based on the Consumer Survey.

 

Of the four components of the CCI, expectations of one’s own and, in particular, Finland’s economy decreased in December compared with November and twelve months back.

 

Consumers’ views of unemployment development and their saving possibilities remained unchanged. Expectations concerning saving possibilities were bright in December, other expectations were subdued or gloomy, according to the survey for which 1,220 people resident in Finland were interviewed between 1 and 16 December.

 

Consumers' expectations concerning their own and Finland's economy in 12 months' time. Source: Consumer Survey 2015, December. Statistics Finland.

In December, consumers regarded the time fairly favourable for taking out a loan but not for buying durable goods and especially not for saving.

 

Employed consumers felt personally more threatened by unemployment than usual, as was the case already in November and one year ago, the statistics indicated.

 

In December, 24 per cent of consumers believed that Finland’s economic situation would improve during the next 12 months, while 38 per cent of them thought that the country’s economy would deteriorate.

 

In November, the respective proportions were still 30 and 29 per cent and twelve months ago in December 26 and 32 per cent.

 

In all, 23 per cent of consumers believed in December that their own economy would improve and 16 per cent of them feared it would worsen over the year. The corresponding proportions were 23 and 13 per cent in November and 23 and 14 per cent one year ago.

 

Consumers' views of the economy

 

	Average 10/1995-	Max. 10/1995-	Min. 10/1995-	12/2014	11/2015	12/2015	Outlook
A1 Consumer confidence indicator, CCI = (B2+B4+B7+D2)/4	11,7	22,9	-6,5	4,4	4,7	2,4	--
B2 Own economy in 12 months' time (balance)	8,3	14,1	2,3	5,5	5,7	4,2	--
B4 Finland's economy in 12 months' time (balance)	3,0	25,3	-27,1	-4,6	-1,9	-10,4	--
B6 Inflation in 12 months' time (per cent)	2,2	4,6	0,6	2,0	1,3	1,5
B7 Unemployment in Finland in 12 months' time (balance)	-3,9	27,6	-51,1	-27,6	-30,5	-29,7	--
B8 Own threat of unemployment now (balance)	-1,3	7,6	-18,8	-7,5	-5,9	-5,2	-
C1 Favourability of time for purchasing durables (balance)	18,1	41,8	-14,2	12,1	15,0	16,8	=
C2 Favourability of time for saving (balance)	10,7	36,8	-19,6	2,4	8,0	4,5	-
C3 Favourability of time for raising a loan (balance)	16,9	42,0	-47,1	11,8	19,6	20,1	=
D2 Household's saving possibilities in the next 12 months (balance)	39,2	52,2	10,9	44,5	45,4	45,5	+

Source: Consumer Survey 2015, December. Statistics Finland.