Consumer confidence rises in Feb

The balance figure of the consumer confidence indicator (CCI) stood at 0.5 in February, having been minus 1.7 in January and minus 3.5 in December, according to Statistics Finland.

In last year’s February, the CCI received the value minus 0.8. The long-term average for the CCI is minus 1.7.

The data are based on Statistics Finland’s Consumer Confidence Survey, to which 988 Finnish residents responded between 1 and 16 February.

Of the four components of the CCI, expectations concerning consumers’ own economic situation in 12 months were very bright in February.

Consumers' views of their own economy at present were also positive, and consumers had plenty of intentions to buy durable goods. In February, expectations concerning Finland's economy were on average level.

Compared to January, expectations concerning consumers’ own economy remained almost unchanged in February.

The other three components strengthened. Compared with last year's February, the assessment of the present state of consumers’ own economy improved clearly, while the other components remained unchanged or weakened slightly.

Consumers' expectations concerning the development of the general unemployment situation in Finland improved significantly in February.

However, the personal threat of unemployment or temporary lay-off experienced by employed persons, i.e. wage and salary earners and self-employed persons, grew slightly over the same period.

In February consumers' estimates and expectations concerning inflation were ever higher than their long-term averages.

Consumers continued to regard their own financial situation even stronger than before in February.

The time was again regarded as fairly favourable for saving, but rather poor for buying durable goods and now also for raising a loan. Possibilities for saving were expected to be very high in the coming months.

In February, consumers still had considerably many intentions to buy a dwelling or build a house. By contrast, plans concerning home renovation and buying a car decreased in February to the average level. As in the past few months, interest in raising a loan was also quite common in January.