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Published: 28 November 2005

Consumers' confidence in the economy unchanged in November

The consumer confidence indicator expressing consumer views on the economy stood at 14.6 in November, which is approximately the same as in October. Confidence in the economy was in November stronger than one year ago and also slightly stronger than average during the last ten years. The data are based on Statistics Finland's Consumer Survey for which 1,511 persons resident in Finland were interviewed between 1 and 18 November.

Only small changes occurred in all the four components of the confidence indicator in November in comparison with October. Consumers' expectations of their own economy continued bright, while their views of general economy remained dull.

Consumer views on the economic and financial conditions in Finland in November 2005

  November 2005 balance figure October 2005 balance figure November 2004 balance figure Average 10/95-11/05
Consumer confidence indicator 14.6 14.0 10.8 13.5
Own economic situation in 12 months' time 11.8 11.5 11.6 9.2
Household's saving possibilities in the next 12 months 47.5 44.3 47.4 32.0
General economic situation in Finland in 12 months' time 1.4 2.8 1.1 7.0
Unemployment in Finland in 12 months' time -2.2 -2.6 -17.1 5.7
Inflation in 12 months' time, % 2.3 2.3 1.9 1.9
Personal threat of unemployment at present 4.8 2.6 0.8 ..
Financial situation of household at present 29.9 30.3 32.0 24.7
Favourable time to make major purchases at present 19.4 25.3 21.6 20.7
Favourable time to save at present 13.9 19.7 15.2 5.6
Favourable time to raise a loan at present 31.1 33.3 24.6 23.1
The balance figures are obtained by deducting the weighted proportion of negative answers from that of positive answers. The consumer confidence indicator is the average of the balance figures for four questions concerning the next 12 months: own and Finland's economy, unemployment and household's saving possibilities. The balance figures and the confidence indicator can range between -100 and 100. A positive balance figure denotes an optimistic and a negative balance figure a pessimistic view on the economy.

In November, 24 per cent of consumers believed that Finland's economic situation would improve in the coming twelve months. Twenty per cent of consumers thought that the country's economy would deteriorate. In all, 29 per cent of consumers believed in November that their own economy would improve and only 8 per cent of them feared it would worsen over the year.

Altogether 35 per cent of consumers thought in November that unemployment would increase over the year, and 32 per cent of them believed it would decrease. One year previously the corresponding proportions were 48 and 19 per cent. Eleven per cent of employed persons reckoned that their personal threat of unemployment had grown over the past few months but more of them, i.e. 15 per cent thought it had lessened.

Consumers predicted in November that consumer prices would go up by 2.3 per cent over the next 12 months. One year ago this inflation expectation was 1.9 per cent.

In November, 44 per cent of consumers thought the time was favourable for buying durable goods. Households had plenty of spending intentions on travel and home furnishing and on purchasing entertainment electronics and leisure equipment. Even major purchases were still of interest in November, since 19 per cent of households were either fairly or very certain to buy a car and 9 per cent a dwelling within the next 12 months.

In November 74 per cent of consumers thought the time was good for raising a loan, and 14 per cent of households were planning to do so in the next 12 months. Saving was considered worthwhile by 61 per cent of consumers in November. In all, 64 per cent of households had been able to lay aside some money and 79 per cent believed they would be able to do so during the next 12 months.

The prevalence of households' various technical equipment were also studied in the November interviews for the Consumer Survey. The data will be published in Statistics Finland's Tieto&trendit (only in Finnish) periodical in mid-December.

Consumer confidence indicator 10/1995-11/2005

Consumers' expectations concerning their own and Finland's economy in 12 months' time 10/1995-11/2005

Consumer confidence indicator in EU Member States, October 2005
Deviation of indicator from country average 10/1995-10/2005*

*Calculated from seasonally adjusted series. Malta does not release a consumer survey. Data for France are missing due to break in time series. Averages for a shorter time period: Luxembourg 1/2002 -, Cyprus, Lithuania and Poland: 1/2001 -, Slovakia: 4/1999 -.
Source: European Commission, DG ECFIN, Business and Consumer Survey Results, October 2005.

Source: Consumer Survey 2005, November. Statistics Finland

Inquiries: Mr Pertti Kangassalo +358 9 1734 3598,

Director in charge: Mr Ari Tyrkkö


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Last updated 28.11.2005

Referencing instructions:

Official Statistics of Finland (OSF): Consumer Confidence [e-publication].
ISSN=2669-8889. November 2005. Helsinki: Statistics Finland [referred: 29.11.2023].
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