|Updated: 27.3.2017 - Next update: 27.4.2017|
Consumer confidence record high in March
Consumers confidence in the economy has strengthened further. The consumer confidence indicator stood at 22.9 in March, having been 20.8 in February and 21.0 in January. The March figure is the highest measured – the same figure was reached in September 2010. In last years March, the consumer confidence indicator received the value 10.4. The long-term average for the confidence indicator is 11.9. The data are based on Statistics Finlands Consumer Survey, for which 1,191 people resident in Finland were interviewed between 1 and 17 March.
All the four components of the consumer confidence indicator, that is, expectations of ones own and Finlands economy, general unemployment and the households saving possibilities, improved somewhat in March compared with February. Compared with the corresponding period last year, all the components of the indicator apart from saving possibilities improved very clearly.
In March, consumers views on their own and Finlands economy were very positive. The assessment of unemployment development was also optimistic. Consumers considered their household's saving possibilities good over the next 12 months.
In March, consumers regarded the time very favourable for taking out a loan but not so much for buying durable goods or for saving. Employed consumers felt in March that their personal threat of unemployment had decreased clearly.
Consumers' own and Finland's economy
In March, 46 per cent of consumers believed that Finlands economic situation would improve in the coming twelve months, while only 11 per cent of them thought that the countrys economy would deteriorate. In February, the respective proportions were 47 and 14 per cent and twelve months ago in March 36 and 26 per cent.
In all, 31 per cent of consumers believed in March that their own economy would improve and only 9 per cent of them feared it would worsen over the year. One month earlier, the corresponding proportions were 29 and 13 per cent, and one year earlier 24 and 15 per cent.Statistical release
Statistics Finland / Consumer survey
Description of indicator
The Consumer Survey is a telephone interview survey by means of which it is possible to measure Finns’ images of the general economic development and the financial situation of one's own household and intentions to make major purchases, save money or take out a loan.
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 (positive) balance figure, the brighter the view on the economy.