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Published: 27 July 2018

Consumer confidence continued as strong in July

The consumer confidence indicator (CCI) stood at 22.0 in July, having been 23.0 in June and 24.8 in May. Last year in July, the CCI received the value 22.8. The long-term average for the CCI is 12.5. The data are based on Statistics Finland’s Consumer Survey, for which 1,042 persons resident in Finland were interviewed between 2 and 19 July.

Consumer confidence indicator (CCI)

Of the four components of the CCI, consumers’ expectation concerning unemployment development improved in July from June and was very bright. Views concerning one's own and Finland’s economy, as well as households’ saving possibilities weakened slightly but were still good.

Confidence in unemployment decreasing also strengthened year-on-year. By contrast, expectations concerning Finland's economy weakened clearly over the year. Consumers’ views concerning their own economy and saving possibilities remained more or less unchanged.

Consumers' expectations concerning their own and Finland's economy in 12 months' time

In July, consumers considered their household’s financial situation to be very good. The time was regarded very favourable for saving, and also good for taking out a loan and buying durable goods. Employed consumers felt in July that their personal threat of unemployment has decreased somewhat in recent times.

Consumer confidence by major region and population group

In July, confidence in the economy was strongest in Greater Helsinki (CCI 25.6) and weakest in Northern Finland (18.5). Among population groups, upper-level salaried employees were clearly most optimistic (37.1). Unemployed persons (6.8) and pensioners (12.0) had the gloomiest expectations concerning economic development.

EU results

The (seasonally adjusted) Consumer Survey results for all EU countries are released monthly on the European Commission website: Press releases .

Concepts

The balance figures are obtained by deducting the weighted proportion of negative answers from that of positive answers (see Methodological description ). The consumer confidence indicator (CCI) is the average of the balance figures for the CCI components. The components are: own economy, Finland’s economy, general unemployment and household’s saving possibilities (all concerning next 12 months). The balance figures and the confidence indicator can range between -100 and +100 – the higher (positive) balance figure, the brighter the view on the economy.

Source: Consumer Survey 2018, July. Statistics Finland

Inquiries: Pertti Kangassalo 029 551 3598, Tuomas Parikka 029 551 3276, consumer.survey@stat.fi

Director in charge: Jari Tarkoma

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Appendix tables

• Appendix table 1. Consumers' views and intentions (27.7.2018)

Figures

• Appendix figure 1. Consumer confidence indicator (CCI) (27.7.2018)
• Appendix figure 2. Micro and macro indicators (27.7.2018)
• Appendix figure 3. Own economy (27.7.2018)
• Appendix figure 4. Finland's economy (27.7.2018)
• Appendix figure 5. Inflation (27.7.2018)
• Appendix figure 6. Unemployment (27.7.2018)
• Appendix figure 7. Favourability of time for (27.7.2018)
• Appendix figure 8. Household's financial situation and saving possibilities (27.7.2018)
• Appendix figure 9. Household's intentions to raise a loan, next 12 months (27.7.2018)
• Appendix figure10. Spending on durables, next 12 months vs last 12 months (27.7.2018)
• Appendix figure 11. Household's intentions to buy, next 12 months (27.7.2018)

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Updated 27.7.2018