Home > Statistics > Consumer Confidence > 2021 > April > 1. Examination of response distributions

1. Examination of response distributions

Consumers' own and Finland's economy

As many as 71 per cent of consumers thought in April that Finland’s economy was now worse than a year ago and only seven per cent of consumers felt that it was better. Fifteen per cent of consumers thought that their own economy is at the moment worse than one year ago. Clearly more consumers or 29 per cent considered their own economy stronger than one year ago. The proportions concerning consumers’ own economy were 19 and 24 per cent in March and 21 and 20 per cent one year ago.

In April as many as 38 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 32 per cent of them thought that the country’s economy would deteriorate. One month previously, the corresponding proportions were 27 and 42 per cent and in last year's April 27 and 61 per cent.

In all, 29 per cent of consumers believed in April that their own economy would improve and only 10 per cent of them feared it would worsen over the year. In March, the respective proportions were 32 and 11 per cent and twelve months ago 24 and 21 per cent.

Unemployment and inflation

As many as 31 per cent of consumers expected in April that general unemployment in Finland would decrease over the next year, while 46 per cent of them believed it would increase. The corresponding proportions were 20 and 62 per cent in March and 10 and 82 per cent one year ago.

In April, nine per cent of employed persons believed that their personal threat of unemployment or temporary lay-off had lessened over the past few months, whereas 22 per cent thought it had grown. On the other hand, 44 per cent of employed persons felt that they were not threatened by unemployment or temporary lay-off at all. One month earlier these three proportions were 5, 25 and 38 per cent, and in April last year 2, 41 and 33 per cent.

Consumers predicted in April that consumer prices would go up by 2.5 per cent over the next 12 months. One year ago, the predicted inflation rate was 2.4 per cent and its long-term average is 2.9 per cent.

Saving and taking out a loan

In April, 62 per cent of consumers thought the time was favourable for saving. Twelve months ago, the proportion was only 40 per cent. In April, 65 per cent of households had been able to lay aside some money and 79 per cent believed they would be able to do so during the next 12 months.

In April, 57 per cent of consumers regarded the time good for taking out a loan. One year earlier, the corresponding proportion was only 28 per cent. In April more consumers than ever, 24 per cent, were planning to raise a loan within one year. The average long-term proportion is 15 per cent.

Use of money

In April, 33 per cent of consumers considered the time favourable for buying durable goods. One year ago, only 20 per cent of consumers held this view. Nineteen per cent of consumers planned on increasing and 28 per cent on reducing their spending on durable goods over the next 12 months.

In April, more consumers than usual, or 16 per cent, were either definitely or possibly going to buy a car during the next 12 months. In April, considerably many also considered buying a dwelling within a year: 17 per cent of consumers. The long-term average for intentions to buy a dwelling is 13 per cent. In addition, as many as 23 per cent of consumers were planning in April to spend money on renovating their dwelling within a year.

Source: Consumer Confidence 2021, April. Statistics Finland

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

Head of Department in charge: Hannele Orjala

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Updated 27.4.2021