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Tue, 30 Jun, 2015 12:03:41 AM FTimes Report, June 30  Consumer confidence indicator (CCI). Source: Consumer Survey 2015, June. Statistics Finland. Consumers’ confidence in the economy weakened slightly in June 2015, according to Statistics Finland.
The consumer confidence indicator (CCI) in June stood at 10.8, while in May it was 15.5 and in April 11.4. In June last year, the CCI received the value 8.7.
The long-term average for the CCI is 11.8 as per the data based on Statistics Finland’s Consumer Survey, for which 1,358 people resident in Finland were interviewed between 1 and 17 June.
Consumers’ confidence in all four components of the CCI weakened in June compared with May. Consumers' expectations concerning their own and Finland's economy were cautious and their views about general unemployment were gloomy.
However, in comparison with the year before, expectations concerning Finland's economy and unemployment were still slightly better.
Views on households' saving possibilities remained bright in June. Consumers regarded the time more favourable for raising a loan than for buying durable goods or, in particular, saving.
Employed consumers still felt personally somewhat more threatened by unemployment than average.
In June, 36 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 22 per cent of them thought that the country’s economy would deteriorate.
Consumers' expectations concerning their own and Finland's economy in 12 months' time. Source: Consumer Survey 2015, June. Statistics Finland. The corresponding proportions were 42 and 17 per cent in May and 34 and 25 per cent one year ago.
In all, 26 per cent of consumers believed in June that their own economy would improve and 15 per cent of them feared it would worsen over the year.
Altogether 41 per cent of consumers thought in June that unemployment would increase over the year, and 21 per cent of them believed it would decrease, the statistics show.
The corresponding proportions were 36 and 26 per cent in May and 48 and 16 per cent one year ago.
Twenty per cent of employed persons reckoned in June that their personal threat of unemployment had grown over the past few months and ten per cent thought it had lessened.
Twenty-three per cent of employed persons felt that they were not threatened by unemployment at all.
Consumers estimated in June that consumer prices would go up by 1.4 per cent over the next 12 months.
In June last year, the predicted inflation rate was 2.4 per cent, and its long-term average is 2.2 per cent.
Forty two per cent of consumers thought in June the time was favourable for buying durable goods. Just 16 per cent of consumers were going to increase and 35 per cent decrease 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 just four per cent a dwelling during the next 12 months.
Twenty-one per cent of households were planning to spend money on renovating their dwelling within a year.
Fifty one per cent of consumers considered saving worthwhile. In all, 63 per cent of households had been able to lay aside some money and 77 per cent believed they would be able to do so during the next 12 months.
Sixty four per cent of consumers regarded the time good for raising a loan. Only eleven per cent of households were planning to take out a loan within one year.
Consumers' views of the economy
Source: Consumer Survey 2015, June. Statistics Finland.
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