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Published: 27 November 2019

Consumer confidence rose slightly month-on-month

The consumer confidence indicator (CCI) stood at -5.0 in November, having been -6.6 in October and -4.2 in September. In last year’s November, the CCI received the value -1.7. The average for the CCI since January 2018 is -0.7. The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,134 persons resident in Finland responded between 1 and 19 November. The survey methods were revised in May.

Consumer confidence indicator (CCI)

Of the four components of the CCI expectations of consumers’ own and Finland’s economy improved slightly in November from October. The views of consumers’ own current economy remained more or less unchanged. Intentions to spend money on durable goods were somewhat higher in November than one month earlier. Apart from spending, the CCI components were still weak in November, especially views about economic development in Finland.

Compared to the corresponding period last year, consumers’ assessments about their own economy at the time of the survey improved slightly in November, while intentions to spend money increased. In contrast, expectations on their own and, in particular, Finland’s economy weakened over the year.

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

In November, consumers increasingly expected the unemployment situation in Finland to become gloomier in future. In addition, consumers felt that their personal threat of unemployment had increased considerably in recent times. However, nearly every second employed person did not experience any threat.

In November, consumers considered their own financial situation to be average. The time was, in general, regarded favourable for raising a loan, but not for buying durable goods nor saving.

Consumer confidence by major region and population group

In November, consumers' confidence in the economy was strongest in Greater Helsinki (CCI -0.3) and weakest in Eastern Finland (-10.7). Among population groups, lower-level salaried employees (1.1) and upper-level salaried employees (0.7) were most optimistic in November. Pensioners clearly had the gloomiest expectations concerning economic development (-17.6).

Consumers' confidence in the economy usually decreases with the person’s age, and correspondingly the confidence typically increases as income grows. Men are likely to have better confidence in the economy than women. More detailed information is available in the Database tables .

EU results

The (seasonally adjusted) survey results concerning economic expectations 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. The consumer confidence indicator (CCI/A1) is the average of the balance figures for the CCI components. The components of the CCI are: consumer's own economy now (B1), consumer's own economy in 12 months (B2), Finland's economy in 12 months (B4) and consumer's spending money on major purchases in the next 12 months compared to the past 12 months (E1). 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 Confidence 2019, November. Statistics Finland

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

Director in charge: Jari Tarkoma

Publication in pdf-format (323.2 kB)

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• Review (27.11.2019)

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Appendix tables

• Appendix table 1. Consumers' views and intentions 1) (27.11.2019)

Figures

• Appendix figure 1. Consumer confidence indicator (CCI) (27.11.2019)
• Appendix figure 2. Own economy (27.11.2019)
• Appendix figure 3. Finland's economy (27.11.2019)
• Appendix figure 4. Inflation (27.11.2019)
• Appendix figure 5. Unemployment (27.11.2019)
• Appendix figure 6. Favourability of time for (27.11.2019)
• Appendix figure 7. Own financial situation and saving possibilities (27.11.2019)
• Appendix figure 8. Intention to raise a loan, next 12 months (27.11.2019)
• Appendix figure 9. Spending on durables, next 12 months vs. last 12 months (27.11.2019)
• Appendix figure10. Intentions to buy, next 12 months (27.11.2019)

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Updated 27.11.2019