1 February, 2001
Inquiries: Mr Pertti Kangassalo +358 9 1734
3598, pertti.kangassalo@stat.fi
Director in charge: Mr Markku Suur-Kujala
Consumers: Time favourable for making major purchases in January
Consumers' confidence in the economy has become somewhat stronger. The consumer confidence indicator was 12.7 in January, while last autumn it stood at 6.9 at its lowest. However, one year ago confidence was even stronger. Views on the time being favourable for making major purchases and raising a loan improved in January. In addition, belief in one's own economy and saving possibilities was strong. The data are based on Statistics Finland's Consumer Survey, for which 1,667 persons resident in Finland were interviewed between 8 and 23 January 2001.
>
|
Consumer views on economic and financial conditions in Finland in January 2001 |
|||
|
January 2001 balance |
December 2000 balance |
January 2000 balance |
|
|
Consumer confidence indicator |
12.7 |
11.0 |
18.3 |
|
Economic situation of households in 12 months' time |
12.3 |
11.1 |
12.0 |
|
Households' saving possibilities in the next 12 months |
40.2 |
33.9 |
31.8 |
|
General economic situation in 12 months' time |
6.8 |
8.9 |
15.3 |
|
Unemployment in 12 months' time |
-21.2 |
-20.3 |
-24.0 |
|
Price trend over the next 12 months, % |
2.9 |
2.6 |
2.4 |
|
Financial situation of households at present |
26.5 |
26.0 |
28.1 |
|
Favourable time to make major purchases at present |
19.1 |
9.3 |
30.9 |
|
Favourable time to save at present |
14.0 |
12.8 |
5.2 |
|
Favourable time to raise a loan at present |
6.4 |
-1.8 |
27.1 |
|
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. |
|||
In January 29 per cent of consumers were confident that their own economic situation would improve in the next 12 months, which is about as many as in December and last year's January. Thirty-one per cent of consumers believed that Finland's economic situation would improve further. This proportion was 34 per cent in December and 39 per cent one year previously. Just 9 per cent of consumers thought their own economic situation would worsen and 16 per cent estimated Finland's economic situation to deteriorate this year.
In January 46 per cent of consumers viewed the time favourable for making major purchases, while this figure was around 40 per cent at the end of last year. Households had several different consumption intentions. Nine per cent of households considered buying a car in the next six months and 6 per cent thought of buying a dwelling in the course of this year.
In January 54 per cent of consumers thought the time was favourable for raising a loan, the proportion for December being 46 per cent. Fourteen per cent of households intended to take out a loan in the next 12 months. In January 62 per cent of consumers considered it worthwhile to save money. More households than before, i.e. 73 per cent believed they would be able to lay aside some money in the next 12 months.
In January, more than one half of consumers believed that unemployment would decline further this year. Consumers estimated that inflation would be 2.9 per cent in January 2002.
Source: Consumer Survey 2001, January. Statistics Finland