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Published: 27 March 2019

Consumer confidence at a steady level

Consumers’ confidence in the economy strengthened in March and is at a good level. The consumer confidence indicator (CCI) stood at 16.1 in March, having been 15.5 in February and 17.2 in January. In last year’s March, the CCI received the value 24.7. The long-term average for the CCI is 12.7. The data are based on Statistics Finland’s Consumer Survey, for which 1,205 people resident in Finland were interviewed between 1 and 19 March.

Consumer confidence indicator (CCI)

Of the four components of the consumer confidence indicator, consumers’ expectations concerning both their own and Finland's economy improved in March from February. Views on their own economy were at a good level, while views on the future of Finland’s economy were slightly pessimistic despite strengthening. The estimate of general development of unemployment weakened slightly but was still at a confident level. Expectations concerning their own saving possibilities remained unchanged and were very optimistic.

Compared with the corresponding period last year, only views on saving possibilities improved in March. Apart from one's own economy, other components weakened clearly in a year.

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

Consumers considered their household’s financial situation very good in March. Employed consumers felt that their personal threat of unemployment has clearly decreased further. The time was regarded favourable for saving and for raising a loan, but not particularly good for buying durable goods. Intentions to spend money on durable goods within one year weakened in March compared to February and the previous year.

Consumer confidence by major region and population group

In March, confidence in the economy was strongest in Western Finland (consumer confidence indicator 17.6) and Greater Helsinki (17.1). Confidence was weakest in Eastern Finland (9.9). Among population groups, upper-level salaried employees (24.3) and entrepreneurs (24.2) were most optimistic. Pensioners (4.6) and unemployed persons (9.9) 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.

Several changes to the Consumer Survey in May

The name, data collection method, sample design and data content of the Consumer Survey will change starting from May. More information about the changes can be found on the web pages of the statistics.

Source: Consumer Survey 2019, March. 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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Appendix tables

• Appendix table 1. Consumers' views and intentions (27.3.2019)

Figures

• Appendix figure 1. Consumer confidence indicator (CCI) (27.3.2019)
• Appendix figure 2. Micro and macro indicators (27.3.2019)
• Appendix figure 3. Own economy (27.3.2019)
• Appendix figure 4. Finland's economy (27.3.2019)
• Appendix figure 5. Inflation (27.3.2019)
• Appendix figure 6. Unemployment (27.3.2019)
• Appendix figure 7. Favourability of time for (27.3.2019)
• Appendix figure 8. Household's financial situation and saving possibilities (27.3.2019)
• Appendix figure 9. Household's intentions to raise a loan, next 12 months (27.3.2019)
• Appendix figure10. Spending on durables, next 12 months vs last 12 months (27.3.2019)
• Appendix figure 11. Household's intentions to buy, next 12 months (27.3.2019)

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Updated 27.3.2019