2 March 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 slightly weaker in February
Consumers' confidence in the economy has become somewhat weaker, but it is still strong. The consumer confidence indicator was 10.1 in February, while in January it stood at 12.7 and a year ago at 17.6. Views on the Finnish economy and the time being favourable for making major purchases worsened in February. However, consumers had several different consumption intentions. In addition, consumers thought that raising a loan was now clearly more worthwhile than last autumn. The data are based on Statistics Finland's Consumer Survey, for which 1,555 persons resident in Finland were interviewed between 5 and 23 February.
>
|
Consumer views on economic and financial conditions in Finland in February 2001 |
|||
|
February 2001 balance |
January 2001 balance |
February 2000 balance |
|
|
Consumer confidence indicator |
10.1 |
12.7 |
17.6 |
|
Economic situation of households in 12 months' time |
10.7 |
12.3 |
13.1 |
|
Households' saving possibilities in the next 12 months |
35.6 |
40.2 |
32.4 |
|
General economic situation in 12 months' time |
2.8 |
6.8 |
17.1 |
|
Unemployment in 12 months' time |
-16.0 |
-21.2 |
-24.5 |
|
Price trend over the next 12 months, % |
2.8 |
2.9 |
2.5 |
|
Financial situation of households at present |
25.1 |
26.5 |
27.4 |
|
Favourable time to make major purchases at present |
13.9 |
19.1 |
26.0 |
|
Favourable time to save at present |
12.1 |
14.0 |
9.8 |
|
Favourable time to raise a loan at present |
8.3 |
6.4 |
25.5 |
|
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 February 26 per cent of consumers believed that Finland's economic situation would improve further in the next 12 months. In January this proportion was 31 and one year ago 43 per cent. Twenty-seven per cent of consumers were confident that their own economic situation would improve, which is a few percentage points less than in January and one year previously.
In February 43 per cent of consumers viewed the time favourable for making major purchases, this figure being 46 per cent in January. In the next six months households will be tempted especially by travelling, entertainment electronics and home decoration. Eight per cent of households considered buying a car in the next few months and 6 per cent thought of buying a dwelling in the next 12 months, similarly as one month previously.
In February 55 per cent of consumers thought the time was favourable for raising a loan, while this proportion was 38 per cent at its lowest last autumn. Thirteen per cent of households intended to take out a loan in the next 12 months. In February 60 per cent of consumers considered it worthwhile to save money and 71 per cent of households believed they would be able to lay aside some money in the next 12 months.
In February, almost one half of consumers believed that unemployment would decline further in the next 12 months. Consumers estimated that inflation would be 2.8 per cent in February 2002.
Source: Consumer Survey 2001, February. Statistics Finland