Consumer confidence remained low in February 2025 – concerns about unemployment and inflation

Consumer confidence in areas of residence and population groups

In February 2025, confidence in the economy was strongest in Greater Helsinki (CCI -6.1). Confidence was weakest in Northern Finland (-12.4). Of population groups, self-employed persons were most optimistic (1.6). In February, unemployed persons had the gloomiest expectations concerning economic development (-20.1).

Women (-13.2) described economic development in February as clearly gloomier than men did (-4.9). More detailed information is available in the figures and database tables.

Consumers' own and Finland's economy

In February, consumers' views of their own and Finland's economy weakened slightly from January. Consumers’ assessments about their own economy at present were fairly gloomy. Expectations concerning their own and Finland's economy in 12 months' time remained subdued in February.

Compared to one year ago, consumers’ views of Finland's economy brightened a little in February, while views of their own economy weakened slightly.

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As many as 31 per cent of consumers thought in February that their own economy was weaker at the time of the survey than one year ago. Twenty-two per cent of consumers regarded their own economy stronger than in the previous year. Sixty-four per cent of consumers thought in February that Finland’s economic situation was now worse than one year earlier and only nine per cent saw it as better.

In February, 21 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 38 per cent of them thought that our country’s economy would deteriorate. In all, 28 per cent of consumers trusted in February that their own economy would improve and 17 per cent of them feared it would worsen over the year.

Unemployment and its threat

Consumers' expectations concerning the development of the general unemployment situation in Finland were in February even gloomier than before. Only 12 per cent of consumers expected that unemployment would decrease over the next year and as many as 61 per cent believed it would increase.

Employed consumers, that is, wage and salary earners and self-employed persons, reckoned in February that their personal threat of unemployment or lay-off was still high. Five per cent of employed persons believed that their personal threat had lessened and 26 per cent thought the risk had grown. On the other hand, 40 per cent of employed persons felt in February that they were not threatened by unemployment or temporary lay-off at all.

Consumer prices

In February, consumers' estimates of the inflation at the time of the survey and concerning price changes in one year's time were rising.

Consumers estimated in February that consumer prices have risen by 5.5 per cent from last year's February and would go up by 4.2 per cent over the next year. Altogether 62 per cent of consumers thought that consumer prices have risen much or fairly much over the year, and one half or 50 per cent of them expected prices to rise at least at the same rate over the coming months as well.

Financial situation, saving and raising a loan

In February, the time was regarded ever worse for taking out a loan and also for saving. Just 27 per cent of consumers regarded the time favourable for taking out a loan and 39 per cent considered saving worthwhile. However, consumers' intentions to raise a loan were still on the usual level in February. Sixteen per cent of consumers were planning to raise a loan within one year.

Consumers' assessment of their own financial situation was in February similar to the long-term average. Consumers estimated that their saving possibilities would be similar to usual in the coming months. Fifty-five per cent of consumers had been able to lay aside some money and 72 per cent believed they would be able to do so during the next 12 months.

Spending and intentions to make large purchases

In February, the time was again regarded very unfavourable for buying durable goods. Only 11 per cent of consumers thought the time was favourable for making expensive purchases.

Consumers’ intentions to spend money on durable goods in the next 12 months continued very low in February. In February, 12 per cent of consumers estimated that they would increase and 40 per cent would reduce their spending on durable goods over the next 12 months.

As many as usual were thinking of buying a car within the next 12 months in February. By contrast, consumers still had slightly fewer plans than usual to buy a dwelling. Consumers’ intentions to renovate their dwelling were similar to the long-term average.

In February, 14 per cent of consumers were either definitely or possibly going to buy a car within the next 12 months. Twelve per cent of consumers considered buying a dwelling or building a house. Seventeen per cent of consumers were planning to spend money on renovating their dwelling during the next 12 months.

Data set for the statistics

The Consumer Confidence Survey is carried out with a self-filled web questionnaire and by telephone interviews. Answers are mainly given by means of answer options. In February 2025, a total of 1,274 persons participated in the Survey and the response rate was 59 per cent. Of the responses, 80 per cent came from the web questionnaire.

The components of the consumer confidence indicator (CCI) are: own economy now, own economy in 12 months, Finland's economy in 12 months and own intentions to buy durable goods in the next 12 months.

EU results

The (seasonally adjusted) survey results concerning economic expectations for all EU countries are released monthly on the European Commission website.