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

1. Examination of response distributions

Consumers' own and Finland's economy

In September, 36 per cent of consumers thought that Finland’s economy was now worse than a year ago and 32 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 or 29 per cent of consumers considered their own economy stronger in September than one year ago. The proportions concerning consumers’ own economy were 15 and 31 per cent in August and 21 and 23 per cent one year ago.

In September, 42 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 21 per cent of them thought that the country’s economy would deteriorate. One month earlier, the corresponding proportions were 38 and 27 per cent and in last year’s September gloomy 25 and 46 per cent.

In all, 29 per cent of consumers believed in September that their own economy would improve and 11 per cent of them feared it would worsen over the year. In August, the corresponding proportions were 30 and 11 per cent and twelve months ago 27 and 15 per cent.

Unemployment and inflation

Altogether 44 per cent of consumers expected in September that general unemployment in Finland would decrease over the next year, while 21 per cent of them believed it would increase. The corresponding proportions were 35 and 30 per cent in August, and very gloomy 13 and 71 per cent one year ago.

In September, 11 per cent of employed persons believed that their personal threat of unemployment or temporary lay-off had lessened over the past few months, whereas 11 per cent thought it had grown. On the other hand, as many as 49 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 11, 18 and 40 per cent, and in September last year gloomy 4, 38 and 32 per cent.

Consumers estimated in September that consumer prices would go up by 2.9 per cent over the next 12 months. One year ago, the predicted inflation rate was 2.2 per cent and its long-term average is 2.9 per cent.

Saving and taking out a loan

In September, 71 per cent of consumers thought the time was favourable for saving. Twelve months ago, the proportion was only 54 per cent. In September, 65 per cent of households had been able to lay aside some money and 77 per cent believed they would be able to do so during the next 12 months.

In September, 64 per cent of consumers regarded the time good for taking out a loan. One year earlier, the corresponding proportion was only 44 per cent. In September, 22 per cent of consumers were planning to take out a loan within one year. The average long-term proportion is 16 per cent.

Use of money

Thirty-three per cent of consumers considered the time favourable for buying durable goods in September. Sixteen per cent of consumers planned on increasing and 25 per cent on reducing their spending on durable goods over the next 12 months.

In September, 17 per cent of consumers were either definitely or possibly going to buy a car during the next 12 months. More than ever before were considering buying a dwelling within a year: 18 per cent of consumers. In addition, as many as 22 per cent of consumers were planning in September to spend money on renovating their dwelling within a year. The long-term average for intentions to buy a car is 14 per cent, to buy a dwelling 13 per cent and to make renovations 18 per cent.

Source: Consumer Confidence 2021, September. Statistics Finland

Inquiries: Pertti Kangassalo 029 551 3598, Tara Junes 029 551 3322, consumer.confidence@stat.fi

Head of Department in charge: Hannele Orjala

---

Updated 27.9.2021