Finland Times

 

Consumer confidence indicator (CCI). Source: Consumer Survey 2014, November. Statistics Finland.

The consumer confidence is still weak in the country though the confidence indicator has increased to 2.6 in November from 0.4 in October and -0.7 in September.

 

 According to the Statistics Finland, the consumer confidence indicator one year ago in November received the value 6.4 while the long-term average for the confidence indicator is 11.9. 

 

The data are based on Statistics Finland’s Consumer Survey, for which 1,254 people resident in Finland were interviewed between 3 and 19 November. 

 

Of the four components of consumer confidence indicator, expectations concerning own saving possibilities and Finland's economy and unemployment improved slightly in November compared to October. 

 

In contrast, views on one’s own economy remained unchanged. In November, the views on Finland's economy were, however, still gloomy and on one's own economy cautious, while the expectations concerning saving possibilities were good. 

 

Consumers regarded the time more favourable for raising a loan than for saving or in particular for buying durable goods in November. The personal threat of unemployment experienced by employed persons was slightly higher in November than in October. 

 

Consumers' expectations concerning their own and Finland's economy in 12 months' time. Source: Consumer Survey 2014, November. Statistics Finland.

In November, 25 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 36 per cent of them thought that the country’s economy would deteriorate. In October the respective proportions were 21 and 35 per cent and twelve months ago they stood at 33 and 26 per cent respectively. 

 

In all, 23 per cent of consumers believed in November that their own economy would improve and 16 per cent of them feared it would worsen over the year. One year ago, the respective proportions were 25 and 13 per cent. 

 

Altogether 10 per cent of consumers thought in November that unemployment would decrease in Finland over the next year, while 62 per cent of them believed it would increase. The corresponding proportions were nine and 68 per cent one month ago and 13 and 55 per cent a year ago.