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Published: 27 September 2018

Consumers’ confidence falling, but still on a strong level

The consumer confidence indicator (CCI) stood at 20.2 in September, having been 21.5 in August and 22.0 in July. Last year in September, the consumer confidence indicator received the value 23.7. The long-term average for the CCI is 12.6. The data are based on Statistics Finland’s Consumer Survey, for which 1,104 people resident in Finland were interviewed between 3 and 18 September.

Consumer confidence indicator (CCI)

Of the four components of the consumer confidence indicator, consumers’ estimates about the development of Finland’s economy fell again in September compared to the previous month. In turn, expectations concerning their own economic situation remained more or less unchanged. Consumers’ views of the country’s unemployment situation and households’ saving possibilities weakened only a little. All the components were still on a good level in September.

Estimates about the country's economic situation fell clearly over the one-year review period. Compared with September last year, estimates about the country's unemployment situation have also weakened. Views on own their own economy have improved slightly and estimates about saving possibilities have weakened somewhat.

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

Consumers considered their household’s financial situation good in September. The time was regarded very favourable for saving and also favourable for taking out a loan and buying durable goods. Consumers assessed that their personal threat of unemployment has decreased clearly in recent times.

Consumer confidence by major region and population group

In September, consumers' confidence in the economy was strongest in Greater Helsinki (CCI 24.8) and weakest in Southern Finland (17.4). Among population groups, upper-level salaried employees were most optimistic (33.2). Unemployed persons (13.4) and pensioners (12.2) had the gloomiest expectations concerning economic development. Men's confidence in the economy was stronger (21.6) than women's (18.8).

Prevalence of modern equipment in households in August

In August, as many as 87 per cent of households with persons aged 15 to 84 had a home computer and 92 per cent had an Internet connection at their disposal. Fifty-six per cent of households owned a tablet. Eighty-four per cent of households owned at least one smartphone and 23 per cent some type of wearable technology like an activity tracker, smartwatch or smartglasses.

Thirty-six per cent of households were watching a smart TV in August. Thirty per cent of households had a gaming console and some even a remote controlled camera drone. Seventy-nine per cent of households owned a car in August.

More information about the prevalence of equipment can be found in Appendix figures 12 to 15 and in Database table 003. Studying the prevalence of equipment in connection with the Consumer Survey will end this year. Statistics Finland will continue compiling statistics on the equipment in other ways that will be specified later.

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, September. Statistics Finland

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

Director in charge: Jari Tarkoma

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Reviews

• Review (27.9.2018)

Tables

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• Database tables and their variables
• Archived tables

Appendix tables

• Appendix table 1. Consumers' views and intentions (27.9.2018)

Figures

• Appendix figure 1. Consumer confidence indicator (CCI) (27.9.2018)
• Appendix figure 2. Micro and macro indicators (27.9.2018)
• Appendix figure 3. Own economy (27.9.2018)
• Appendix figure 4. Finland's economy (27.9.2018)
• Appendix figure 5. Inflation (27.9.2018)
• Appendix figure 6. Unemployment (27.9.2018)
• Appendix figure 7. Favourability of time for (27.9.2018)
• Appendix figure 8. Household's financial situation and saving possibilities (27.9.2018)
• Appendix figure 9. Household's intentions to raise a loan, next 12 months (27.9.2018)
• Appendix figure10. Spending on durables, next 12 months vs last 12 months (27.9.2018)
• Appendix figure 11. Household's intentions to buy, next 12 months (27.9.2018)
• Appendix figure 12. Prevalence of equipment and connections in households, August 2018 (27.9.2018)
• Appendix figure 13. Television equipment in households 2/2000 - 8/2018 (15 to 74-year-old target persons households) (27.9.2018)
• Appendix figure 14. Information technology in households 2/2000 - 8/2018 (15 to 74-year-old target persons households) (27.9.2018)
• Appendix figure 15. Telephones and car in households 2/2000 - 8/2018 (15 to 74-year-old target persons households) (27.9.2018)

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Updated 27.9.2018