Published: 27 April 2021

Consumer confidence strong and partly record high in April

The consumer confidence indicator (CCI) stood at 3.8 in April, having been -3.0 in March and -0.8 in February. Confidence in the economy has last been on level with April or stronger in May 2018 (4.1). Last year in April, the CCI received the value -13.9. The long-term average for the CCI is -1.8. The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,010 persons resident in Finland responded between 1 and 19 April.

Consumer confidence indicator (CCI)

Consumer confidence indicator (CCI)

Of the four components of the CCI, only expectations concerning consumers’ own economic situation in twelve months’ time did not improve in April compared to March. The other components improved briskly. Compared to last year's April, all four components of the CCI were now clearly on a better level.

Of the components of the CCI, consumers' views on the present state of their own economy and intentions to spend money on durable goods in the coming twelve months were on the strongest level in their measuring history 1995 to 2021 in April. In addition, also expectations concerning the development of their economy were very bright. In April, expectations concerning Finland's economy in twelve months’ time were optimistic, too.

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

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

Consumers also considered their own financial situation in April the best ever during the measuring history. The time was regarded very good for saving and also fairly favourable for taking out a loan and buying durable goods. Again, record many were intending to take out a loan within one year. As in the past few months, consumers also had considerably plenty of plans to buy a dwelling in April. Very many were also considering renovating their dwelling or buying a car during the next 12 months.

Consumers' expectations concerning the development of the general unemployment situation in Finland also became slightly brighter in April. This was also the case for estimates of the personal threat of unemployment or temporary lay-off experienced by employed, that is, wage and salary earners and self-employed persons at the time of the survey. Consumers’ expectations of the growth rate of consumer prices in the coming months remained unchanged in April and below its long-term average.

Consumer confidence by major region and population group

In April, consumer confidence in the economy was strongest in Greater Helsinki (CCI 9.8) and weakest in Eastern Finland (-1.4). Among population groups, upper-level salaried employees were most optimistic (11.0). Pensioners had the most pessimistic views concerning economic development (-4.8). The confidence indicator received the value 7.2 among self-employed persons in April.

Consumer 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 balance figure, the brighter the view on the economy.


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

Publication in pdf-format (413.1 kB)

Reviews
Tables

Tables in databases

Appendix tables

Figures

Updated 27.4.2021

Referencing instructions:

Official Statistics of Finland (OSF): Consumer Confidence [e-publication].
ISSN=2669-8889. April 2021. Helsinki: Statistics Finland [referred: 18.5.2021].
Access method: http://www.stat.fi/til/kbar/2021/04/kbar_2021_04_2021-04-27_tie_001_en.html