Consumer confidence remains very weak but on rise in June

The balance figure of the consumer confidence indicator (CCI) stood at minus 7.6 in June, having been minus 10.3 in May and minus 12.6 in April, according to Statistics Finland.

The figure for June is highest since February 2022 (0.5). In June 2023, the consumer confidence indicator received the value minus 8.8.

The long-term average for the CCI is minus 2.5.

The data are based on the Consumer Confidence Survey, to which 1,143 persons resident in Finland responded between June 1 and June 17.

Views on both consumers’ own and Finland's economy improved from the previous month. Compared to one year earlier, the differences were minor.

Consumers' views of their own economy at present were still on a very weak level.

Expectations concerning their own and Finland's economy in 12 months' time were subdued.

The time was still regarded very unfavourable for buying durable goods and intentions to spend money on consumption were low. In contrast, intentions to buy a dwelling picked up considerably.

Expectations concerning the general development of unemployment improved slightly but consumers still felt that their threat of unemployment was high. Estimates of inflation fell slightly.

Views on their own financial situation weakened slightly again. In future, consumers predicted that their saving possibilities would be slightly worse than usual.

In June, consumer confidence in the economy was strongest in Greater Helsinki (CCI minus 5.0).

Confidence was weakest in Western Finland (minus 10.3).

Among population groups, upper-level salaried employees were most optimistic (0.8).

Pensioners had the gloomiest expectations concerning economic development ( minus 15.9).

Women ( minus 10.7) described economic development clearly gloomier in June than men ( minus 4.5).