Consumers strongly confident in own economy

Consumers’ confidence in the economy remains on a good level. The consumer confidence indicator (CCI) stood at 17.2 in January, having been 16.1 in December and 18.3 in November, according to Statistics Finland.

Last year in January, the CCI received the value 24.2. The long-term average for the CCI is 12.7. The data are based on Statistics Finland’s Consumer Survey, for which 1,154 people resident in Finland were interviewed between 2 and 18 January.

Of the four components of the CCI, consumers' expectations concerning their own economy and saving possibilities improved in January compared with December. Expectations concerning them were very bright, brighter than ever for saving.

By contrast, views concerning Finland's economy and the development of unemployment remained unchanged in January. Views about unemployment were moderate but expectations concerning Finland’s economy were pessimistic.

Compared with the corresponding period of last year, confidence in Finland’s economy and unemployment decreasing weakened in January. Views about their own economy in turn remained unchanged and assessments about saving possibilities also improved clearly in a year.

In January, consumers considered their household’s financial situation to be very good. Employed consumers felt that their personal threat of unemployment has still decreased slightly in recent times. The time was regarded very favourable for saving and good also for buying durable goods but not for taking out a loan. Intentions to spend money on durable goods were very subdued in January.