Consumer confidence remains strong in July

The consumer confidence indicator (CCI) stood at 22.0 in July, having been 23.0 in June and 24.8 in May, according to Statistics Finland.

Last year in July, the CCI received the value 22.8. The long-term average for the CCI is 12.5.

The data are based on Statistics Finland’s Consumer Survey, for which 1,042 persons resident in Finland were interviewed between 2 and 19 July.

Of the four components of the CCI, consumers’ expectation concerning unemployment development improved in July from June and was very bright.

Views concerning one's own and Finland’s economy, as well as households’ saving possibilities weakened slightly but were still good.

Confidence in unemployment decreasing also strengthened year-on-year. By contrast, expectations concerning Finland's economy weakened clearly over the year. Consumers’ views concerning their own economy and saving possibilities remained more or less unchanged.

In July, consumers considered their household’s financial situation to be very good. The time was regarded very favourable for saving, and also good for taking out a loan and buying durable goods. Employed consumers felt in July that their personal threat of unemployment has decreased somewhat in recent times.