Consumer confidence weakens in December

The consumer confidence indicator (CCI) stood at minus 4.2 in December whereas in November it was minus 5.0 and in October minus 6.6, according to Statistics Finland.

Last year in December, the CCI received the value minus 2.2. The average for the CCI since 1998 is minus 1.9.

The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,060 persons resident in Finland responded between 1 and 16 December.

The long time series of the statistics on consumer confidence have now been republished as level revised: database tables and figures . More information about the level revision can be found in the review of the release .

Of the four components of the CCI consumers’ views of their own current economy and the near future of Finland’s economy improved in December compared to November.

Expectations concerning consumer’s own economic situation remained almost unchanged. Consumers’ intentions to spend money on durable goods were somewhat lower in December than one month earlier. Compared to the corresponding period last year, the components of the CCI weakened apart from increased intentions to spend money.

In December, the views of consumers’ own current economy were good and views about economic development in Finland were weak. The other CCI components were at average levels.

In December, consumers also expected the unemployment situation in Finland to become gloomier in future. Employed consumers felt that their personal threat of unemployment had increased in recent times. However, nearly every second employed person did not experience any threat.

In December, consumers considered their own financial situation to be excellent. The time was, in general, regarded favourable for raising a loan and also for saving, but not for buying durable goods.