Published: 27 December 2019

Consumer confidence weak but rose slightly

The consumer confidence indicator (CCI) stood at -4.2 in December whereas in November it was -5.0 and in October -6.6. Last year in December, the CCI received the value -2.2. The average for the CCI since 1998 is -1.9. The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,060 persons resident in Finland responded between 1 and 16 December. The long time series of the statistics on consumer confidence have now been republished as level revised: database tables and figures . More information about the level revision can be found in the review of the release .

Consumer confidence indicator (CCI)

Consumer confidence indicator (CCI)

Of the four components of the CCI consumers’ views of their own current economy and the near future of Finland’s economy improved in December compared to November. Expectations concerning consumer’s own economic situation remained almost unchanged. Consumers’ intentions to spend money on durable goods were somewhat lower in December than one month earlier. Compared to the corresponding period last year, the components of the CCI weakened apart from increased intentions to spend money.

In December, the views of consumers’ own current economy were good and views about economic development in Finland were weak. The other CCI components were at average levels.

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 December, consumers also expected the unemployment situation in Finland to become gloomier in future. Employed consumers felt that their personal threat of unemployment had increased in recent times. However, nearly every second employed person did not experience any threat.

In December, consumers considered their own financial situation to be excellent. The time was, in general, regarded favourable for raising a loan and also for saving, but not for buying durable goods.

Consumer confidence by major region and population group

In December, consumer confidence was strongest in Northern Finland (CCI -1.4) and weakest in Eastern Finland (-7.6). Among population groups, upper-level salaried employees were most optimistic (3.4) in December. Pensioners clearly had the gloomiest expectations concerning economic development (-14.7).

Consumer confidence usually decreases with the person’s age, and correspondingly the confidence typically increases as income grows. Men are likely to have better confidence in the economy than women. More detailed information is available in the Database tables .

EU results

The (seasonally adjusted) survey results concerning economic expectations 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. The consumer confidence indicator (CCI/A1) is the average of the balance figures for the CCI components. The components of the CCI are: consumer's own economy now (B1), consumer's own economy in 12 months (B2), Finland's economy in 12 months (B4) and consumer's spending money on major purchases in the next 12 months compared to the past 12 months (E1). 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 Confidence 2019, December. Statistics Finland

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

Director in charge: Jari Tarkoma

Publication in pdf-format (462.6 kB)

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Appendix tables

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Updated 27.12.2019

Referencing instructions:

Official Statistics of Finland (OSF): Consumer Confidence [e-publication].
ISSN=2669-8889. December 2019. Helsinki: Statistics Finland [referred: 21.1.2020].
Access method: http://www.stat.fi/til/kbar/2019/12/kbar_2019_12_2019-12-27_tie_001_en.html