Consumers’ confidence strengthens in May

The consumer confidence indicator (CCI) stood at 24.8 in May, rising from 23.2 in April and 24.7 in March, according to the Statistics Finland.

In last year’s May, the CCI received the value of 24.1. The long-term average for the CCI is 12.5.

The data are based on the Statistics Finland’s Consumer Survey, for which 1,114 persons residing in Finland were interviewed between May 2 and 18.

Of the CCI components, consumers’ expectations about their own and Finland’s economy, as well as general developments in the unemployment situation were very bright in May. Assessment of the household’s saving possibilities was good, too.

Compared with April, the views concerning household’s own economy and saving possibilities improved in May. Views on Finland’s economy and unemployment, however, remained unchanged.

Compared with the corresponding period of last year, the confidence in one’s own economy and especially in decreasing the rate of unemployment strengthened. By contrast, expectations about Finland’s economy weakened slightly over the year and expectations concerning saving possibilities remained more or less unchanged.

In May, consumers considered their household financial situation exceptionally good.

The time was regarded very favourable for taking out a loan and for saving, and also good for buying durable goods.

The employed consumers in May felt more strongly than ever that their personal threat of unemployment had decreased in recent times.