Consumer confidence reaches all-time high

The consumer confidence indicator (CCI) rose to 25.8 in February from 24.2 in January, according to Statistics Finland.

The figures are the highest in the measuring history. In February last year, the CCI had the value of 20.8. The long-term average for the CCI is 12.3.

The data are based on Statistics Finland’s Consumer Survey, in which 1,146 residents in Finland were interviewed between February 1 and 19.

Of the components of the CCI, the expectation on unemployment decreasing in Finland strengthened clearly in February compared with that in January. Other components, i.e., expectations of consumers’ own and Finland’s economy and household’s saving possibilities also improved a little in February. Compared with the corresponding period last year, all the CCI components apart from saving possibilities improved clearly.

In February, consumers’ expectations concerning their own and Finland’s economy and unemployment were very bright. Views on one’s own saving possibilities were also good.

In February, consumers regarded the time as very favourable for saving but no longer as favourable for taking out a loan nor for buying durable goods as one month previously. Employed consumers felt in February that their personal threat of unemployment has decreased much in recent months.