Consumer confidence remains very weak in March

The balance figure of the consumer confidence indicator (CCI) stood at minus 8.2 in March, having been minus 9.0 in February and minus 8.4 in January, according to Statistics Finland.

One year ago in March, the consumer confidence indicator received the value minus 9.4. The long-term average for the CCI is minus 2.6.

The data are based on the Consumer Confidence Survey, to which 1,266 persons resident in Finland responded between 1 and 18 March.

In March 2025, consumers' views on their own economy at present improved slightly from the previous month but still remained very weak. Expectations concerning their own and Finland's economy were unchanged and subdued.

The time was still regarded very unfavourable for buying durable goods and intentions to spend money on consumption were low. In addition, fewer than usual were planning to buy a dwelling.

Expectations concerning the general development of unemployment were fairly gloomy, and consumers felt that their personal threat of unemployment was high.

Consumers assessed their own financial situation and saving possibilities to be similar to the long-term average.

Among different population groups, the views of unemployed persons remained gloomy, while self-employed persons were already optimistic.

In March 2025, confidence in the economy was exceptionally strongest in Eastern Finland (CCI minus 4.6). Confidence was weakest in Southern Finland outside Greater Helsinki (minus 9.5).

Of the socio-economic groups, self-employed persons were considerably optimistic (3.1). In March, unemployed people clearly had the gloomiest expectations concerning economic development ( minus 22.8).

Women ( minus 12.0) still described economic development in March as clearly gloomier than men did ( minus 4.5).

Compared to one year ago, consumers’ views of Finland's economy brightened a little in March, while views of their own economy did not change much.

Twenty-nine per cent of consumers thought in March that their own economy was weaker at the time of the survey than one year ago. Twenty-three per cent of consumers regarded their own economy stronger than in the previous year. Sixty-four per cent of consumers thought in March that Finland’s economic situation was now worse than one year earlier, and only 10 per cent saw it as better.

In March, just 22 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 39 per cent of them thought that our country’s economy would deteriorate. In all, 29 per cent of consumers believed that their own economy would improve and 19 per cent of them feared it would worsen over the year.

Consumers' expectations concerning the development of the general unemployment situation in Finland remained fairly gloomy in March even though somewhat improved. Fifteen per cent of consumers expected that unemployment would decrease over the year and 57 per cent believed it would increase.

Employed consumers, that is, wage and salary earners and self-employed persons, reckoned in March that their personal threat of unemployment or lay-off was higher than before. Only five per cent of employed persons believed that their personal threat had lessened and 27 per cent thought the risk had grown. On the other hand, 41 per cent of employed persons felt in March that they were not threatened by unemployment or temporary lay-off at all.

In March, consumers' estimates of the inflation at the time of the survey and concerning price changes in one year's time remained high.

Consumers estimated in March that consumer prices have risen by 5.3 per cent from last year's March and would go up by 4.2 per cent over the next year.

Altogether 63 per cent of consumers thought that consumer prices have risen much or fairly much over the year, and over one half or 55 per cent of them expected prices to rise at least at the same rate over the coming months as well.

In March, the time was still regarded – despite slight recovery – very poor for taking out a loan and also for saving. Thirty-one per cent of consumers regarded the time favourable for raising a loan and 41 per cent considered saving worthwhile. There were slightly fewer plans to raise a loan in March than usual. Fifteen per cent of consumers were planning to take out a loan within one year.

Consumers' assessment of their own financial situation was in March similar to the long-term average. Consumers estimated that their saving possibilities would be similar to usual in the coming months. Fifty-eight per cent of consumers had been able to lay aside some money and 73 per cent believed they would be able to do so during the next 12 months.

In March the time was still regarded very unfavourable for buying durable goods. Only 11 per cent of consumers thought the time was favourable for making expensive purchases.

Consumers’ intentions to spend money on durable goods in the next 12 months continued very low in March. Nine per cent of consumers estimated that they would increase and 38 per cent would reduce their spending on durable goods over the next 12 months.

Fewer than usual were planning to buy a car within 12 months. Similarly, fewer consumers than usual had plans to buy a dwelling or make renovations to their dwelling.

In March, 13 per cent of consumers were either definitely or possibly going to buy a car within the next 12 months. Eleven per cent of consumers considered buying a dwelling or building a house. Fifteen per cent of consumers were planning to spend money on renovating their dwelling during the next 12 months.