Consumer confidence: documentation of statistics

The statistics on Consumer Confidence describe the economic sentiments, i.e. consumers' estimates and expectations concerning the development of their own and Finland's general economy. The statistics also include information on consumers' intentions of making expensive purchases, saving and raising loans. The data collection of the statistics is based on individual sampling, and it is made by means of a self-filled web questionnaire and telephone interviews (mixed-mode data collection).

The statistics on Consumer Confidence were previously known as the Consumer Barometer (Survey). The first Consumer Barometer was conducted in November 1987. At first, the survey was made twice a year (May and November), and in 1992, the survey times were raised to four (February, May, August and November). Starting from October 1995, data on Consumer Confidence have been collected every month as assigned, harmonised and partly financed by the European Commission (Directorate-General for Economic and Financial Affairs DG ECFIN).

The questions asked in the Consumer Confidence Survey (CCS) are mainly divided into opinion questions but also into factual questions. The questions are answered by means of ready-made response alternatives (exceptions are questions about percentage estimates concerning inflation).

The wordings and response alternatives of the questions on the web form of the statistics:

1. What is your main activity at the moment?
Employee in full-time work
Employee in part-time work
Farmer (also unpaid)
Entrepreneur (also unpaid) or own-account worker
Unemployed or laid off
On family leave
Conscript or in non-military service
Student or pupil
Pensioner or chronically ill
I do something else
 
The following questions concern your opinions about the economy.        
2. How do you find your economic situation now, compared with the situation 12 months ago? (B1)
Much better
Slightly better
The same
Slightly worse
Much worse
Don't know

3. And what do you expect your economic situation to be like in 12 months' time, compared with the present situation? (B2)
Much better
Slightly better
The same
Slightly worse
Much worse
Don't know

4. Is it easy or difficult for you at the moment to predict your future economic situation?
Easy
Quite easy
Quite difficult
Difficult
Don't know

5. How likely is it that you will save money in the next 12 months? (D2)
Very likely
Quite likely
Quite unlikely
Very unlikely
Don't know

6. Which of the following alternatives best describes your finacial situation at the moment? (D1)
A lot of money is saved
A little money is saved
I can barely make ends meet
I have to use savings
I am getting into debt at the moment
Don't know

7. How do you find Finland’s economic situation now compared with the situation 12 months ago? (B3)
Much better
Slightly better
The same
Slightly worse
Much worse
Don't know

8. And what do you expect Finland’s economic situation to be like in 12 months' time compared with the present situation? (B4)
Much better
Slightly better
The same
Slightly worse
Much worse
Don't know

9. How do you estimate the number of unemployed will change in Finland? (B7)
Do you think that the number of unemployed in 12 months' time will be:
Much higher
Slightly higher
The same
Slightly lower
Much lower
Don't know

10. Do you think that your personal threat of unemployment or lay-off in the past 12 months has: (B8)
Increased a lot
Increased slightly
Remained unchanged
Decreased slightly
Decreased a lot
There has never been and there is no threat
Don't know

11. How do you think consumer prices have changed in the past 12 months?
Risen a lot
Risen quite a lot
Risen a little
Remained the same
Fallen
Don't know

12. How much do you estimate prices have risen/fallen in percentages in the past 12 months? (B5)
0.0…99.9 %
Don't know

13. Compared with the past 12 months, how do you estimate consumer prices will change in Finland in the next 12 months? Will they:
Rise more quickly
Rise at the same rate
Rise more slowly
Not rise or fall
Fall
Don't know

14. How much do you estimate prices will rise/fall in percentages in the next 12 months? (B6)
0.0…99.9 %
Don't know

The next questions concern saving and taking out a loan.  
15. If you think about the general economic situation in Finland, what is the time like now for saving? (C2)
Very good
Quite good
Quite bad
Very bad
Don't know

16. If you again think about the general economic situation, what is the time like now for taking out a loan? (C3)
Very good
Quite good
Quite bad
Very bad
Don't know

17. Are you planning to take out a loan in the next 12 months? (D5)
Yes, absolutely
Possibly
Probably not
No
Don't know

Next questions are about purchases and consumption.       
18. If you think about the general economic situation in Finland, what is the time like now for buying durable goods like furniture, home technology or a car? (C1)
Good
Bad
Neither good nor bad
Don't know

19. Compared with the past 12 months, how are you planning to spend money on buying durable goods in the next 12 months? (E1)
Much more
Slightly more
Not more or less
Slightly less
Much less
Don't know

20. How likely is it that you will spend money on buying a passenger car in the next 12 months? (E2)
Very likely
Quite likely
Quite unlikely
Very unlikely
Don't know

21. Are you going to buy a new or used car? (E3)
New
Used
Both new and used
Don't know

22. Are you going to spend money on buying an apartment or building a house in the next 12 months? (E4)
Yes, absolutely
Possibly
Probably not
No
Don't know

23. How likely is that you will spend a lot of money on home renovations or improvements in the next 12 months? (E5)
Very likely
Quite likely
Quite unlikely
Very unlikely
Don't know

Are you planning to spend money on the following purchases in the next 6 months?      
24. Household appliances (fridge, microwave oven, washing machine, etc.) (E65)
Yes
Maybe
No
Don't know

25. Entertainment electronics (television, computer, phone, etc.) (E64)
Yes
Maybe
No
Don't know

26. Home decoration (furniture, carpets, paintings, etc.) (E62)
Yes
Maybe
No
Don't know

27. Other vehicle (bicycle, boat, motorbike etc.) - not a car (E67)
Yes
Maybe
No
Don't know

28. Expensive hobby or sports equipment (E66)
Yes
Maybe
No
Don't know

29. Free-time residence or cottage (E63)
Yes
Maybe
No
Don't know

30. Leisure trips abroad (E69)
Yes
Maybe
No
Don't know

31. Leisure trips in Finland lasting at least four days (E68)
Yes
Maybe
No
Don't know

And finally, a few background questions.   
32. How do you live? Do you live in…?
Owner-occupied dwelling
Rented dwelling
Right of occupancy or part-ownership dwelling
Some other form of tenure

33. According to the register of occupations, your occupation belongs to the group [...]. Is this still the right group?
Yes
No
Don't know

34. What is your precise occupational title /
You previously answered that you are an agricultural entrepreneur. What is your more precise occupational title /
You previously answered that you are an entrepreneur. What is your more precise occupational title?
                     
35. Into which of the following income groups do your monthly gross income and benefits belong?
Under EUR 1,500 per month
EUR 1,500 to 2,599 per month
EUR 2,600 to 3,799 per month
EUR 3,800 per month or more
Don't know
Unwilling to answer

36. How many persons, including yourself, belong to your household?
1...30

37. How many of them are adults, that is, aged at least 18?
0...30

The percentage distribution of responses to opinion questions is used to derive a balance figure corresponding to the EU’s balance figure indicator. The balance figure characterises the average opinion of respondents in a certain period. Examining balance figures as a time series reveals changes in sentiments from one period to another.

The balance figure is derived as a difference between the positive and negative response rates by weighting extreme answers by figure 1 and more moderate answers by figure 0.5. The balance figure does not include the middlemost or neutral opinions and ‘don’t know’ answers. The balance figure can range between -100 and +100. The higher value for the balance figure, the brighter the consumers’ view on the economy.

Calculation of the balance figure from response rates by question:

B1, B2, B3, B4:
(1 x much better + 0.5 x slightly better) - (1 x much worse + 0.5 x slightly worse)
B7:
(1 x much lower + 0.5 x slightly lower) - (1 x much higher + 0.5 x slightly higher)
B8:
(1 x decreased a lot + 0.5 x decreased slightly) - (1 x increased a lot + 0.5 x increased slightly)
C1:
(1 x good) - (1 x bad)
C2, C3:
(1 x very good + 0.5 x quite good - 1 x very bad + 0.5 x quite bad)
D1:
(1 x a lot of money is saved + 0.5 x a little money is saved) - (1 x I am getting into debt at the moment + 0.5 x I have to use savings)
D2:
(1 x very likely + 0.5 x quite likely) - (1 x very unlikely + 0.5 x quite unlikely)
E1:
(1 x much more + 0.5 x slightly more) - (1 x much less + 0.5 x slightly less)

For inflation questions (B5, B6), the average of consumers’ estimates is calculated from the percentage responses (only estimates with an absolute value of under 15 per cent included). For intentions of purchasing and taking out a loan (D5, E2, E4, E5, E62 to E69), the response rates for definite and possible intentions are summed up.

The Consumer Confidence Indicator (CCI, A1) summarises consumers’ views on the economy. The CCI is the average of the balance figure of the four components:

• consumer's own economy now (B1)
• consumer's own economy in 12 months (B2)
• Finland's economy in 12 months (B4)
• consumer's spending money on durable goods in the next 12 months compared to the past 12 months (E1).

This new CCI introduced in 2019 is used and recommended by the European Commission's Directorate General for Economic and Financial Affairs (DG ECFIN). The components of the former long used CCI were (all concerning the next 12 months): own economy (B2), Finland's economy (B4), general unemployment (B7) and household’s saving possibilities (D2).

By means of the CCI and expectations related to the economy, it is possible to anticipate economic development on the micro and macro level. According to the analysis made by DG ECFIN, the new CCI should describe particularly the development of private consumption better than the previous indicator.

The classification data used in the statistics on Consumer Confidence are the respondent’s gender, age group, level of education, socio-economic group, gross income, area of residence, mode of living and household size.

The target population of the statistics consists of people aged 18 to 74 living in Finland, namely consumers.
 

The basic units of the statistics are people aged 18 to 74 living in Finland, namely consumers.
 

The measurement units used in the statistics are the balance figure and per cent.
 

For the purpose of statistics, questions are made on consumers’ economic views concerning the previous 12 months, the time of the survey and the next 12 months and also certain intentions to spend money concerning the next six months.
 

The reference area of the statistics is the whole of Finland and the areas based on the regions roughly corresponding to the previous provinces, the Greater Helsinki area as a separate area.
 

The statistics cover people aged 18 to 74 living in Finland, namely consumers.
 

The data materials of the statistics cover all months starting from October 1995; the published data are final.
 

The data of the statistics are disseminated monthly.
 

Evaluation of the reliability of sentiment indicators is not unambiguous. The importance of information related to consumers’ expectations is, however, generally known and consumers’ sentiment indicators have long been used as part of predicting economic indicators and in economic forecasting models.

The CCI has been widely used in Finland in anticipating the activity of consumers. It has strongly correlated with changes in gross domestic product (GDP) and private consumption. The direct questions on plans of making purchases, saving or raising a loan have also been a good indication of how consumers' decisions are carried through. Consumers’ expectations concerning unemployment and inflation have also been quite accurate.

A few reliability surveys have been made on the CCS in Finland. At the beginning of the survey (1989 and 1990), Kari Djerf analysed the functioning and accuracy of certain data on intentions of purchase with macroeconomic indicators. A comprehensive reliability study was produced in 1997 on a tenyear study for the CIRET Conference in Helsinki (Djerf & Takala).

A paper on the CCS and the accuracy of its indicators was again prepared for the CIRET Conference in autumn 2010 (Kangasniemi, Kangassalo & Takala). After that, Tara Junes (2014) has made comparisons between consumer confidence and private consumption series in Finland and some other EU countries. Quite recently, the predictive power of the CCS data was substantiated by economists of the Bank of Finland (Lindblad & Silvo 2020). Furthermore, the Bank of Finland has studied the functioning of inflation expectations many times (Kuismanen & Spolander 1995, Pursiainen 1999, Kangassalo & Takala 2005, Paloviita et al. 2019 and 2021).

For the methodological aspects, Pertti Kangassalo and Veijo Notkola analysed the change in the structure of non-response when the data collection method changed in 1999 to 2000 (CIRET 2000). Later, the effects of the methodological change on the survey results were examined more extensively (Kangassalo & Heiskanen 2001).

In 2013, the response rates of all EU Member States' consumer surveys and the factors influencing them were examined on assignment of the European Commission (Task force on quality of BCS data; Junes & Kangassalo).

In spring 2019, the data collection method of the CCS changed from only telephone interviews into a so-called mixed-mode data collection, i.e. a self-filled web questionnaire and telephone interviews. This had different kinds of effects by question on the survey results. Tara Junes and Tuomas Parikka wrote a description of the effects of the change and the level revision of the time series in the publication of the CCS in January 2020.

Data collected with a sample survey always contain statistical inaccuracy, which is, however, reduced by weighting. The small size of the monthly response data of the statistics as well as non-response and its skewing cause inaccuracies to the results. In terms of the Consumer Confidence Indicator, this means an estimated margin of error of at least 1.7 unit in both directions:

Standard error for the CCI: 0.90 units (September 2020, n=1,112).
Confidence interval (95%) for the CCI: ± 1.96 x standard error = ± 1.76.

There is no time lag in the statistics. The data are always published and available on the agreed date (notified in Statistics Finland's release calendar) around one week after the end of the data collection at the end of the survey month.

There is no time lag in the statistics. The data are always published and available on the agreed date (notified in Statistics Finland's release calendar) around one week after the end of the data collection at the end of the survey month.

The statistics are available to the fullest extent possible allowed by quality aspects.
 

The share of over-coverage detected in the statistics is monthly under 0.5 per cent. The share of non-response is a little over 50 per cent of the sample, no item non-response. An occupational code is “imputed” monthly for around 60 observations (employed persons). ‘Don’t know’ entries are edited. The Calmar application is utilised in estimation, calibration of weighting coefficients.
 

There is inaccuracy in occupational coding for the statistics due to deficient background information.
 

The share of non-response in the statistics is monthly a little over 50 per cent of the sample. Only around 15 per cent of non-response can be confirmed as being caused by refusals; for over 80 per cent the reason recorded is that the respondent was not reached (by interviewers).

The data of the statistics are fully comparable by area.

The questions of the statistics have always been for the most part comparable with corresponding international surveys. In October 1995, the opinion questions of the survey were made compliant with the 15 questions of the EU countries’ harmonised Consumer Survey (currently 18 EU questions). Some of Finland's own questions have been included in the same form since the beginning of the survey, since November 1987.

In terms of the key questions, the survey is identical in all present and future EU countries.

Temporal comparability is valid for the statistics throughout the monthly period of the statistics, that is, starting from October 1995. There have been methodological changes but reweightings and level revisions have been made to all main time series.

The comparable time series of the statistics cover all months starting from October 1995. The figures of the time series before May 2019 have been reweighted and level revised to correspond to the survey results produced with the new data collection method (mixed-mode data collection) started in May 2019.

The content of the statistics differs much from the data and concepts of other statistics and the majority of the data (subjective/qualitative estimates and expectations of the economy) are not directly connected or comparable to other statistics. However, the questions concerning the generality of equipment and investment targets already discontinued in the survey were, with certain reservations, comparable and supplementary with respect to Statistics Finland's less frequently implemented large interview surveys (e.g. Household Budget Survey, Wealth Survey, Survey on use of information and communications technology by individuals).

On the other hand, the purpose of the statistics is to offer a tool for anticipating economic development, so the results and time series are always compared to the statistics describing the development of the national economy (e.g. National Accounts, Trend Indicator of Output, Labour Force Survey, Consumer Price Index, Bank Statistics).

The data of the statistics can be utilised in predicting the development of national accounts time series: GDP and private consumption by quarter, monthly Indicator of Total Output.
 

The data of the statistics are uniform.

The statistics are the only monthly survey in Finland that examines the economic sentiments and intentions of consumers.

Because the main purpose of the indicators of the statistics is to anticipate trends in the national economy and private consumption, the survey is conducted as unchanged in time as possible in terms of its methods and questions. Apart from a few exceptional phases, unbroken monthly time series have been secured in Finland starting from 1995.

Changes in data collection methods always have at least some effect on the response distributions of the statistics. As a result of the methodological change in 2000, the results concerning consumers' estimates of their household's financial situation and of the time being favourable for buying durable goods and saving became slightly more positive. Later on, the extension of the population to persons aged 75 to 84 is estimated to have weakened slightly the value of the Consumer Confidence Indicator starting from January 2012.

The most significant change in the statistical methodology took place in May 2019. At that time, the so-called mixed-mode data collection (self-filled web questionnaire and telephone interviews) and a rotating panel design were taken into use. In addition, the population was cut down to those aged 18 to 74, the weighting was renewed, the data content was considerably lightened and all questions were made personal, that is, only concerning the respondent (previously many questions were directed at the whole household). As expected, these changes had varying combined effects on the survey results depending on the question. However, based on the parallel collection and careful analysis of the effects made in February to April 2019, the time series of the statistics could be level revised retrospectively, to the start of the monthly data collection, that is, until 1995. Thus, the comparability of the data of the statistics remained relatively reliable over time. A description of the effects of the data collection change and the level revision of the time series can be found in the release of the statistics in January 2020.

The statistics are based on a sample survey. The population includes around 3.9 million persons aged 18 to 74 living in Finland. The monthly sample size is 2,200 persons. The sampling is made as systematic random sampling (SYS) from the population database maintained by Statistics Finland. The sorting order of the frame follows the geographical population density. The selection can be compared with the use of simple random sampling with the addition that the sample is geographically self-weighting. The survey area is the whole country. A rotating panel design is in use: respondents participate in the data collection twice within six months, and one-half of the sample are new respondents every month.

Data acquisition takes place in with the so-called mixed-mode data collection method, that is, by a self-filled web questionnaire or as a telephone interview. The register of employment statistics provides ready-made data on occupational groups for each respondent. After the current over 50 per cent non-response rate, the average size of the monthly response data is around 1,000 persons. The non-response rate includes those who refused from the survey or were otherwise prevented from participating, as well as those who could not be contacted. Possible over-coverage (deaths, moves abroad and permanently in institutional care) is also included here in non-response.
 

The data collection for the statistics is carried out as a mixed-mode data collection method, that is, by means of a self-filled web questionnaire or as a telephone interview. The respondents represent the population aged 18 to 74 in Finland according to age, gender, area of residence and native language.

After the current over 50 per cent non-response rate, the average size of the monthly response data is around 1,000 persons.
The non-response rate includes those who refused from the survey or were otherwise prevented from participating, as well as those who could not be contacted. Possible over-coverage (deaths, moves abroad and permanently in institutional care) is also included here in non-response.

Statistics Finland's interviewers are trained at the start of their employment relationship as regards both the interview technique and the information content of the statistics. The interviewers are assisted in their work by the guidelines of the data collection and the possibility to receive additional instructions from work supervisors and superiors, as well as from the researchers of the statistics. By means of the feedback from interviewers, the questionnaires can be updated and honed even better.

Each month, just before the beginning of the data collection, Statistics Finland sends to each sample person an accompanying letter for the data collection, which gives a brief description of the contents and purpose of the data collection. Email is also used for contacting and providing information. The search for telephone numbers mainly takes place through the purchased search service, but the interviewers supplement it with additional searches. The respondents can contact Statistics Finland themselves by telephone or email to find a suitable time for the interview.

The data collection starts on the first working day of the month and takes good two weeks. First starts web responding and telephone interviews after a few days. The web form is open throughout the collection period. The vast majority, over 70 per cent, of the responses come from the web questionnaire each month. The questionnaire is very short and fluent and can be filled in with any device such as PC, tablet or mobile phone. The data collection forms (web form and interview form) were designed and tested carefully at the start of the mixed-mode data collection. Swedish and English versions are also used for both forms.
 

The data for the statistics are collected monthly.
 

It takes varying time to respond to the questionnaires of the statistics depending on the respondent. It is possible to answer in five to ten minutes. The web and interview questionnaires have been designed to be as short and easy as possible to fill in. It is technically possible to fill in the web form with any information technology device, including a mobile phone or tablet.

The costs of the collection of data under the EU agreement for the European Commission total approximately EUR 300,000 per year (the Commission reimburses 35% of this).

 

The complete combined data collection data of the statistics are checked, edited and weighted immediately after the end of the data collection by means of SAS, Excel and Calmar applications. All response data of the CCS are expanded to the whole population with weighting coefficients. The weighting corrects the effects of non-response and improves the statistical accuracy of the data. Weighting coefficients are calculated by using the probability of each observation to be included in the sample.

In the last stage, weighting coefficients are obtained with the calibration method (Calmar) so that the estimated marginal distributions of the selected background variables, the person's gender, age group, level of education and area of residence correspond to the marginal distributions obtained from the entire population, i.e. population structure. The weights are formed as a ratio between the cell frequencies of the population and the sample frequencies. It is not necessary to care about small cell frequencies or cell frequencies that remain zero. The method can also be called “incomplete post-stratification”. The calibration of weights is “automatically” made as part of the results processing programs (SAS).

The effect of weighting on sentiment indicator values is usually insignificant for three reasons. Firstly, the sampling design of the survey (SYS) produces a self-weighting sample. Secondly, non-response has remained fairly even in different population groups, so it has not much skewed the data. And thirdly, the correlation of questions concerning opinions and indictors calculated from them is weak with the variables used in weighting. It can be said that opinions are divided relatively much in different population groups.

Statistics Finland does not adjust seasonally the CCS time series published, but the European Commission does it later in its own release (on the level of each country and the whole EU).

Actual imputation is not used in the statistics. Only around 50 cases of missing occupational codes are covered for monthly.
 

The complete combined data collection data of the statistics are checked, edited and weighted immediately after the end of the data collection by means of SAS, Excel and Calmar applications.
 

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The compilation of statistics is guided by the Statistics Act. The Statistics Act contains provisions on collection of data, processing of data and the obligation to provide data. Besides the Statistics Act, the Data Protection Act and the Act on the Openness of Government Activities are applied to processing of data when producing statistics.Statistics Finland compiles statistics in line with the EU’s regulations applicable to statistics, which steer the statistical agencies of all EU Member States.

Further information: Statistical legislation
 

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Further information: Data protection | Statistics Finland (stat.fi)
 

These statistics are statistics subject to insider rules: the persons/groups that are entitled to handle unit-level research data and see the results to be released beforehand are named exactly, and the list of these persons is updated whenever the persons change. The data of the statistics are retained in the directory of the statistics so that only the above-mentioned persons have access to them. 
 

Statistics Finland publishes new statistical data at 8 am on weekdays in its web service. The release times of statistics are given in advance in the release calendar available in the web service. The data are public after they have been updated in the web service.

Further information: Publication principles for statistics at Statistics Finland

All research results are made public monthly on Statistics Finland's website on the pre-notified release date and time given in the release calendar (27th day of the month at 8 am; if it is a weekend or a public holiday, then on the first weekday after it). For some (charged) customers the results are sent by email at the time of release.

The release schedule of the statistics is prepared in cooperation with the Confederation of Finnish Industries EK, which is responsible for other inquiries on business trends in Finland. The releases are made monthly on the same day and time as the Confederation of Finnish Industries EK. At the same time, it is ensured that the release in Finland takes place before the release made by the European Commission.

The statistics have a framework agreement for several years (2021 to 2025) with the European Commission (DG ECFIN) received through an EU competition. The Commission finances the collection of data for the statistics with a fixed share (35%) recorded in the framework agreement. In addition, a more detailed EU agreement is made for each year from May to next year's April. The agreements have conditions for monthly data collection, data transmissions to DG ECFIN and data releases in the EU and Finland.

The data of these statistics are also published as articles and blogs (Tieto&trendit) and on social media, e.g. Twitter.
 

Statistical data are published as database tables in the StatFin database. The database is the primary publishing site of data, and new data are updated first there. When releasing statistical data, existing database tables can be updated with new data or completely new database tables can be published.

In addition to statistical data published in the StatFin database, a release on the key data is usually published in the web service. If the release contains data concerning several reference periods (e.g. monthly and annual data), a review bringing together these data is published in the web service. Database tables updated at the time of publication are listed both in the release and in the review. In some cases, statistical data can also be published as mere database releases in the StatFin database. No release or review is published in connection with these database releases.

Releases and database tables are published in three languages, in Finnish, Swedish and English. The language versions of releases may have more limited content than in Finnish.

Information about changes in the publication schedules of releases and database tables and about corrections are given as change releases in the web service.

The dissemination methods of the data of these statistics are Statistics Finland's web pages, direct email messages to certain customers, Findicator, Tieto&trendit publication and also social media, e.g. Twitter. The European Commission publishes the data seasonally adjusted monthly.

The monthly release of the statistics always contains the release text and the figures.

For some (charged) customers the survey results are sent by email at the time of release.

The micro data of the statistics are available (for research use) mainly as standard format data files delivered to the European Commission, whose content is described and from which no individual respondent can be identified. Those ordering the data must file an application for licence to use statistical data to Statistics Finland's research services, and only after the application has been approved, the data can be released for their use.

The data of these statistics are also published as articles and blogs (Tieto&trendit) and on social media, e.g. Twitter.
 

Revisions – i.e. improvements in the accuracy of statistical data already published – are a normal feature of statistical production and result in improved quality of statistics. The principle is that statistical data are based on the best available data and information concerning the statistical phenomenon. On the other hand, the revisions are communicated as transparently as possible in advance. Advance communication ensures that the users can prepare for the data revisions.

The reason why data in statistical releases become revised is often caused by the data becoming supplemented. Then the new, revised statistical figure is based on a wider information basis and describes the phenomenon more accurately than before.

Revisions of statistical data may also be caused by the calculation method used, such as annual benchmarking or updating of weight structures. Changes of base years and used classifications may also cause revisions to data.

There is no revision in the statistics.

The users of the statistics are mainly economists or other persons involved in general economic matters who expect speedy and up-to-date and historically comparable information on consumers’ confidence, expectations and plans.

The statistics are in regular contact monthly with data users. Based on the feedback received, the data mostly correspond to users’ data needs.
 

The statistics check and edit the response data of the statistics monthly and non-response is examined (by different background information).
 

Quality management requires comprehensive guidance of activities. The quality management framework of the field of statistics is the European Statistics Code of Practice (CoP). The quality criteria of Official Statistics of Finland are also compatible with the European Statistics Code of Practice.

Further information: Quality management | Statistics Finland (stat.fi)

Data are released to all users at the same time. Statistical data may only be handled at Statistics Finland and information on them may be given before release only by persons involved in the production of the statistics concerned or who need the data of the statistics concerned in their own work before the data are published.

Further information: Publication principles for statistics

Unless otherwise separately stated in connection with the product, data or service concerned, Statistics Finland is the producer of the data and the owner of the copyright.The terms of use for statistical data.