9 January 2001
Inquiries: Mr Pertti Kangassalo +358 9 1734
3598, pertti.kangassalo@stat.fi
Director in charge: Mr Markku Suur-Kujala
Consumers' confidence in the economy stronger in December
Consumers' confidence in the economy has become stronger after the drop last autumn. The consumer confidence indicator was 11 in December, i.e. four points higher than at its lowest in October. Views on Finland's economy particularly improved in December. In addition, saving was considered ever more worthwhile. The data are based on Statistics Finland's Consumer Survey, for which 1,687 persons resident in Finland were interviewed between 4 and 20 December 2000.
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Consumer views on economic and financial conditions in Finland in December 2000 |
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December 2000 balance |
November 2000 balance |
December 1999 balance |
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Consumer confidence indicator |
11.0 |
9.3 |
14.2 |
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Economic situation of households in 12 months' time |
11.1 |
9.9 |
9.8 |
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General economic situation in 12 months' time |
8.9 |
4.6 |
14.1 |
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Unemployment in 12 months' time |
-20.3 |
-13.4 |
-22.3 |
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Price trend over the next 12 months, per cent |
2.6 |
2.8 |
2.3 |
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Financial situation of households at present |
26.0 |
26.6 |
22.2 |
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Favourable time to make major purchases at present |
9.3 |
11.1 |
15.8 |
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Favourable time to save at present |
12.8 |
6.7 |
0.9 |
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Favourable time to raise a loan at present |
-1.8 |
-5.1 |
27.1 |
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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. |
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In December 34 per cent of consumers expected the economic situation of Finland to improve during this year. This proportion was 28 per cent in November and 37 per cent in December 1999. Twenty-eight per cent of consumers were confident that their own economic situation would improve, which is a few percentages more than in November and one year previously. Just 9 per cent of consumers thought their own economic situation would get worse and 16 per cent estimated Finland's economic situation to deteriorate this year.
Consumers' other views on the economy have also improved since autumn. Sixty per cent considered it worthwhile to save money and 68 per cent of households believed they would be able to lay aside some money this year. In December 46 per cent of consumers thought the time was favourable for raising a loan and 15 per cent of households intended to do so in the next 12 months.
Thirty-nine per cent of consumers viewed the time favourable for making major purchases in December and various consumption intentions were still strong. Nine per cent of households considered buying a car in the next six months and 7 per cent thought of buying a dwelling this year.
In December, every second consumer believed that unemployment would decline further this year. Consumers estimated that inflation would be 2.6 per cent in December 2001.
The seasonally adjusted consumer confidence indicator of the EU Member States rose to 0 in December from November's -2, while in Finland it was 12 in December and 11 in November.
Source: Consumer Survey 2000, December. Statistics Finland