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Published: 27 January 2020

Consumer confidence almost unchanged in January

The consumer confidence indicator (CCI) stood at -4.6 in January, having been -4.2 in December and -5.0 in November. Last year in January, the CCI received the value -2.4. The long-term average for the CCI is -1.7. The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,063 persons resident in Finland responded between 1 and 19 January. The long time series of the statistics on consumer confidence starting from 1995 have now been republished as level revised and reviewed during December to January: database tables and figures . More information about the level revision can be found in the review of the release .

Consumer confidence indicator (CCI)

Of the four components of the CCI consumers’ views of their own current economy and their spending money on durable goods weakened somewhat in January compared to December. In turn, their expectations concerning the near future of their own and Finland's economy improved slightly. Compared with the corresponding period last year, the components of the CCI weakened apart from increased intentions to spend money.

In January, consumers’ image of their own economy was altogether good, while their views concerning spending money and especially about economic development in Finland were weak.

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

Consumers’ views on the development of the unemployment situation in Finland were on the long-term average level in January. The same applied to the personal threat of unemployment experienced by employed persons.

In January, consumers considered their own financial situation to be good. The time was, in general, regarded favourable for raising a loan, as well as for saving, but not so much for buying durable goods.

Consumer confidence by major region and population group

In January, consumers' confidence in the economy was strongest in Greater Helsinki (CCI 1.9) and weakest elsewhere in Southern Finland (-9.3). Among population groups, upper-level salaried employees were most optimistic (3.2). Unemployed persons (-14.7) and pensioners (-13.3) had clearly the gloomiest expectations concerning economic development in January.

Consumer confidence 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 2020, January. 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 (462.6 kB)

Reviews

• 1. Examination of answer distributions (27.1.2020)
• 2. Description of level revision of time series (27.1.2020)

Tables

Tables in databases

Pick the data you need into tables, view the data as graphs, or download the data for your use.

• Database tables and their variables
• Archived tables

Appendix tables

• Appendix table 1. Consumers' views and intentions 1) (27.1.2020)
• Appendix table 2. Results and standard errors in February to April 2019 by two different data collection methods (27.1.2020)

Figures

• Appendix figure 1. Consumer confidence indicator (CCI) (27.1.2020)
• Appendix figure 2. Own economy (27.1.2020)
• Appendix figure 3. Finland's economy (27.1.2020)
• Appendix figure 4. Inflation (27.1.2020)
• Appendix figure 5. Unemployment (27.1.2020)
• Appendix figure 6. Favourability of time for (27.1.2020)
• Appendix figure 7. Own financial situation and saving possibilities (27.1.2020)
• Appendix figure 8. Intention to raise a loan, next 12 months (27.1.2020)
• Appendix figure 9. Spending on durables, next 12 months vs. last 12 months (27.1.2020)
• Appendix figure10. Intentions to buy, next 12 months (27.1.2020)

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Updated 27.1.2020