2 May, 2000
Inquiries: Mr Pertti Kangassalo +358 9 1734
3598, pertti.kangassalo@stat.fi
Director in charge: Mr Markku Suur-Kujala
Finnish consumers' confidence in the economy still strong
In April, the consumer confidence indicator was 13.5, or higher than a year ago. Consumers' confidence in the economy has, however, fallen gradually since this year's January. Consumers' views on the time being favourable for purchasing consumer durables and on Finland's future economic situation have especially deteriorated in the first part of the year. Nevertheless, consumers thought saving was still more worthwhile in April. The data are based on Statistics Finland's Consumer Survey, for which 1,608 persons resident in Finland were interviewed between 3 and 19 April.
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Consumer views on economic and financial conditions in Finland in April 2000 |
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April 2000 balance |
March 2000 balance |
April 1999* balance |
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Consumer confidence indicator |
13.5 |
14.7 |
12.7 |
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Economic situation of households in 12 months' time |
10.6 |
11.1 |
8.5 |
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General economic situation in 12 months' time |
10.8 |
13.2 |
8.4 |
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Unemployment in 12 months' time |
-17.1 |
-22.2 |
-20.9 |
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Price trend over the next 12 months, % |
2.6 |
2.8 |
1.6 |
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Financial situation of households at present |
26.0 |
25.6 |
20.5 |
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Favourable time to make major purchases at present |
15.0 |
18.1 |
26.6 |
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Favourable time to save at present |
14.9 |
11.9 |
-6.4 |
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Favourable time to raise a loan at present |
20.8 |
18.8 |
40.7 |
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The balance figures are obtained by deducting the weighted proportion of negative answers from that of positive answers. The negative balance figure for unemployment means that unemployment is estimated to go down. The consumer confidence indicator is the average of the balance figures for the following questions: Finland's past and future economic development, past and future economic development of the respondent's own household, and whether it was a favourable time to make major purchases at present. The balance figures and the confidence indicator can range between -100 and 100. * The data collection method for the Survey changed from January 2000, for which reason older data are not fully comparable. |
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In April, 36 per cent of Finnish consumers expected that the country's economic situation would improve further in the next 12 months. Twenty-eight per cent of consumers were confident that their own economy would improve. Fewer than before, or 47 per cent of consumers believed that unemployment would fall in the next 12 months. In addition, consumers estimated that inflation would be 2.6 per cent in April 2001.
In April, as many as 62 per cent of consumers considered the
time favourable for saving.
Sixty-nine per cent of households were confident they would be able
to lay aside some money in the next 12 months and 25 per cent of
households intended to invest money in securities as well.
Sixty-eight per cent of consumers viewed the time favourable for
raising a loan, and 14 per cent of households planned to do so in
the next 12 months, but still very few intended to use loan money
for purchasing securities.
In April, 45 per cent of consumers considered the time favourable for making major purchases. Households' consumption intentions were still strong, and plans were being made for travelling and dwelling repairs, in particular. Ten per cent of households intended to buy a car in the next six months and 6 per cent were thinking of buying a dwelling in the next 12 months.
Source: Consumer Survey 2000, April. Statistics Finland