7 October 1999
Inquiries: Mr Pertti Kangassalo +358 9 1734
3598, pertti.kangassalo@stat.fi
Director in charge: Mr Markku Suur-Kujala
Finnish consumers consider the time favourable for consumption
In September, 48 per cent of consumers thought the time was favourable for buying various consumer durables. Self-employed persons were most favourably disposed towards consumption. Men considered the time was more favourable than women did. On the other hand, consumers expected that the year-on-year change of consumer prices would be 2.0 per cent in September 2000, which means that the rate of inflation would accelerate slightly. The data are based on Statistics Finland's Consumer Survey, for which 1,650 persons resident in Finland were interviewed between 20 and 27 September.
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Consumer views on economic and financial conditions in Finland in September 1999 |
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September 1998 balance |
August 1999 balance |
September 1999 balance |
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Consumer confidence indicator |
12.6 |
14.0 |
14.8 |
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Economic situation of households in 12 months' time |
7.3 |
8.0 |
8.1 |
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General economic situation in 12 months' time |
4.3 |
10.6 |
12.0 |
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Unemployment in 12 months' time |
-19.1 |
-20.4 |
-22.9 |
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Price trend over the next 12 months, % |
1.6 |
2.1 |
2.0 |
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Financial situation of households at present |
21.5 |
24.2 |
21.1 |
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Favourable time to make major purchases at present |
25.0 |
25.0 |
28.5 |
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Favourable time to save at present |
5.9 |
2.0 |
0.8 |
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Favourable time to raise a loan at present |
32.4 |
38.6 |
34.9 |
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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 September, 5 per cent of households were thinking of buying a dwelling in the next 12 months. Forty-two per cent of households intended to acquire new furnishings in the next six months. About 40 per cent were planning a holiday in Finland or abroad. Eight per cent of households were considering buying a car and 29 per cent thought of purchasing a mobile phone, computer or other entertainment electronics.
As many as 79 per cent of households had a mobile phone in September. Forty-five per cent of households owned a computer and 25 per cent had their home computers connected to the Internet. Seventy-three per cent of households drove a car of their own or a company car.
In September, 73 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. Fifty per cent of consumers thought saving was worthwhile.
Finnish consumers continued to believe in the positive development of the economy. The consumer confidence indicator stood at 14.8 in September. Every third consumer believed that Finland's economic situation would improve further over the next 12 months. Every fourth consumer thought his or her own economy would improve. Only about every tenth consumer estimated his or her own or the country's economy would worsen. Well over one half of consumers believed unemployment would decline.
Source: Consumer Survey 1999, September. Statistics Finland