A more recent publication of this set of statistics is available.

Latest publication: Consumer Confidence 2019, November

Published: 28 April 2008

Consumer confidence unchanged in April

The consumer confidence indicator stood at 12.6 in April, which is about the same as in March. Thus, confidence in the economy continued to be weaker when compared with one year ago and with the long-term average. The data are based on Statistics Finland's Consumer Survey for which 1,546 persons resident in Finland were interviewed between 1 and 18 April.

Of the four components of the consumer confidence indicator, expectations concerning the development of unemployment continued to recover in April from the downswing observed two months previously. By contrast, views about Finland's economy continued to darken. Views about the other components remained more or less unchanged. Consumers' expectations concerning their saving possibilities were very bright, while their views on their own economy were more cautious than usual. In April consumers expected inflation to stay high and regarded the time as very favourable for saving.

Consumer views on the economic and financial conditions in Finland in April 2008, balances*

  Average
10/95-
Max.
10/95-
Min.
10/95-
April
2007
March
2008
April
2008
Situation**
Consumer confidence indicator (CCI) 13.9 21.8 3.5 17.9 12.9 12.6 -
CCI components:              
Own economic situation
in 12 months' time
9.5 14.1 2.3 12.5 9.8 9.3 -
Households' saving possibilities
in the next 12 months
35.0 52.0 10.9 44.0 49.0 49.2 ++
Finland's economic situation
in 12 months time
5.5 21.7 -14.0 2.7 -10.5 -12.9 - -
Finland's unemployment situation
in 12 months time
5.5 27.6 -22.7 12.6 3.2 5.0 -
Others:              
Inflation
in 12 months' time, per cent
2.1 3.8 0.7 2.4 3.6 3.7  
Own threat of unemployment
at present
4.4 7.6 0.8 5.6 6.1 7.3 ++
Financial situation of household
at present
26.1 35.1 14.7 31.8 32.1 31.4 +
Favourable time to make major purchases
at present
20.9 37.7 -2.1 22.0 24.2 24.6 +
Favourable time to save
at present
9.9 36.8 -19.6 30.8 31.0 33.1 ++
Favourable time to raise a loan
at present
20.8 42.0 -13.5 3.7 3.7 1.3 - -
* The balance figures are obtained by deducting the weighted proportion of negative answers from that of positive answers. The consumer confidence indicator is the average of the balance figures for the CCI components. The balance figures and the confidence indicator can range between -100 and 100 - the higher the balance figure the brighter the view on the economy.
** ++ Situation is very good, + Situation is good, - Situation is bad, - - Situation is very bad.

In April, 15 per cent of consumers believed that Finland's economic situation would improve in the coming twelve months, while 39 per cent of them thought that the country's economy would deteriorate. Twelve months earlier the corresponding proportions were 24 and 19 per cent. In all, 28 per cent of consumers believed in April that their own economy would improve while 13 per cent of them feared it would worsen over the year. One year ago the corresponding proportions were 32 and just 9 per cent.

Altogether 38 per cent of consumers thought in April that unemployment would decrease over the year, while 28 per cent of them believed it would increase. As recently as in February the respective proportions were 29 and 39 per cent. Sixteen per cent of employed persons reckoned in April that their personal threat of unemployment had lessened over the past few months while 9 per cent thought it had grown.

Consumers predicted in April that consumer prices would go up by 3.7 per cent over the next 12 months. The long-term predicted average inflation rate is 2.1 per cent.

As many as 77 per cent of consumers considered saving worthwhile in April. Sixty-seven per cent of households had been able to lay aside some money and 81 per cent believed they would be able to do so during the next 12 months. Households mostly save for a rainy day or increasingly often for a holiday trip. After the most popular fixed-term or investment accounts, the most common investment targets were investment funds and insurances.

In April, 50 per cent of consumers regarded the time good for raising a loan. Thirteen per cent of households were planning to raise a loan within one year. In March this proportion was 16 per cent.

In April, 48 per cent of consumers thought the time was favourable for buying durable goods. Many households intended to spend money on, for instance, travel, home improvements or domestic appliances during the next six months. Much like one year earlier, 19 per cent of households were fairly or very certain to buy a car and 8 per cent a dwelling in the next twelve months.

Consumer confidence indicator (CCI) 10/1995-4/2008

Consumers' micro and macro indicators 10/1995-4/2008*

* Micro indicator is the average of three balance figures: own economy and household's saving possibilities in 12 months' time,
and household's financial situation at present.
Macro indicator is the average of two balance figures: Finland's economy and unemployment in 12 months' time.

Deviation of CCI from country average in EU member states, March 2008

* Calculated from seasonally adjusted series; average: 10/1995-
Source: European Commission, DG ECFIN, Business and Consumer Survey Results, March 2008
http://ec.europa.eu/economy_finance/db_indicators/db_indicators8650_en.htm

Source: Consumer Survey 2008, April. Statistics Finland

Inquiries: Mr Pertti Kangassalo +358 9 1734 3598,kuluttaja.barometri@stat.fi

Director in charge: Mr Ari Tyrkkö

Tables

Tables in databases


Last updated 28.4.2008

Referencing instructions:

Official Statistics of Finland (OSF): Consumer Confidence [e-publication].
ISSN=2669-8889. April 2008. Helsinki: Statistics Finland [referred: 15.12.2019].
Access method: http://www.stat.fi/til/kbar/2008/04/kbar_2008_04_2008-04-28_tie_001_en.html