Published: 29 April 2019

Consumer confidence unchanged in April

Consumers’ confidence in the economy has already stayed for about six months on the same moderate level. The consumer confidence indicator (CCI) stood at 15.7 in April, having been 16.1 in March and 15.5 in February. The long-term average for the CCI is 12.7. One year earlier in April, the CCI received a clearly higher value, 23.2. The data are based on Statistics Finland's Consumer Survey for which 1,143 persons resident in Finland were interviewed between 1 and 17 April.

Consumer confidence indicator (CCI)

Consumer confidence indicator (CCI)

Of the four components of the CCI, only consumers’ expectations concerning Finland's economy improved slightly in April compared to March. However, the picture of the country's economic development was still fairly gloomy. However, each of the three other components of the CCI weakened slightly in April. The estimate of one’s own economy still remained reasonable and views on saving possibilities excellent. Expectations concerning the decrease of unemployment were still positive.

Compared with the corresponding period last year, only views on saving possibilities improved in April. The other CCI components deteriorated in a year, expectations concerning Finland’s general economy significantly.

Consumers' expectations concerning their own and Finland's economy in 12 months' time

Consumers' expectations concerning their own and Finland's economy in 12 months' time

In April consumers considered their household’s financial situation to be very good. Employed consumers felt that their personal threat of unemployment has still decreased somewhat in recent times. The time was regarded very favourable for saving and also good for taking out a loan and buying durable goods. Intentions to spend money on durable goods within one year showed small signs of picking up especially compared to March.

Consumer confidence by major region and population group

In April, consumers' confidence in the economy was strongest in Greater Helsinki (CCI 17.0) and Northern Finland (16.9) and weakest in Eastern Finland (10.4). Among population groups, upper-level salaried employees were most optimistic (25.0). Pensioners had the gloomiest expectations concerning economic development (4.3).

Several changes to the Consumer Survey in May

The name, data collection method, sample design and data content of the Consumer Survey will change starting from May. More information about the changes can be found on the web pages of the statistics.

EU results

The (seasonally adjusted) Consumer Survey results for all EU countries are released monthly on the European Commission website: Press releases .

Concepts

The balance figures are obtained by deducting the weighted proportion of negative answers from that of positive answers (see Methodological description ). The consumer confidence indicator (CCI) is the average of the balance figures for the CCI components. The components are: own economy, Finland’s economy, general unemployment and household’s saving possibilities (all concerning next 12 months). The balance figures and the confidence indicator can range between -100 and +100 – the higher (positive) balance figure, the brighter the view on the economy.


Source: Consumer Survey 2019, April. Statistics Finland

Inquiries: Pertti Kangassalo 029 551 3598, Tuomas Parikka 029 551 3276, consumer.survey@stat.fi

Director in charge: Jari Tarkoma

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Updated 29.4.2019

Referencing instructions:

Official Statistics of Finland (OSF): Consumer survey [e-publication].
ISSN=1799-1382. April 2019. Helsinki: Statistics Finland [referred: 22.5.2019].
Access method: http://www.stat.fi/til/kbar/2019/04/kbar_2019_04_2019-04-29_tie_001_en.html