Consumer confidence weakens slightly in January

The consumer confidence indicator (CCI) stood at minus 4.6 in January, having been minus 4.2 in December and minus 5.0 in November, according to Statistics Finland.

Last year in January, the CCI received the value minus 2.4. The long-term average for the CCI is minus 1.7.

The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,063 persons resident in Finland responded between 1 and 19 January.

Of the four components of the CCI consumers’ views of their own current economy and their spending money on durable goods weakened somewhat in January compared to December.

In turn, their expectations concerning the near future of their own and Finland's economy improved slightly.

Compared with the corresponding period last year, the components of the CCI weakened apart from increased intentions to spend money.

In January, consumers’ image of their own economy was altogether good, while their views concerning spending money and especially about economic development in Finland were weak.

Consumers’ views on the development of the unemployment situation in Finland were on the long-term average level in January. The same applied to the personal threat of unemployment experienced by employed persons.

In January, consumers considered their own financial situation to be good. The time was, in general, regarded favourable for raising a loan, as well as for saving, but not so much for buying durable goods.