Published: 29 July 2019

Consumer confidence negative in July

The consumer confidence indicator (CCI) stood at -3.9 in July, having been -4.6 in June and -1.8 in May. Last year in July, the CCI received the value 2.5. The average for the CCI since January 2018 is 0.3. The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,050 persons resident in Finland responded between 1 and 19 July. The survey methods were revised in May.

Consumer confidence indicator (CCI)

Consumer confidence indicator (CCI)

Of the four components of the CCI, only expectations concerning Finland's economy weakened in July from June. The other components improved slightly. Expectations concerning Finland’s economy were very pessimistic. At the same time, views on consumers’ own economic situation now and in the future were subdued. Intentions to spend money on durable goods were clearly higher than average in July.

Compared with the corresponding period last year, all the components of the CCI apart from spending weakened. Especially expectations concerning Finland's economy plummeted over the year.

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

In July, consumers expected the general employment situation to darken in the near future. Employed consumers also felt that their personal threat of unemployment has increased in recent times. On the other hand, every second employed person did not experience any threat.

In July, consumers considered their own financial situation to be good. The time was, in general, regarded favourable for raising a loan and, with some reservations, also for buying durable goods and saving.

Consumer confidence by major region and population group

In July, consumers' confidence in the economy was strongest in Greater Helsinki (CCI 0.7) and weakest in Eastern Finland (-9.1). Among population groups, upper-level salaried employees were most optimistic (2.5). Pensioners (-11.9) and unemployed persons (-11.0) clearly had the gloomiest expectations concerning economic development. More 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 (positive) balance figure, the brighter the view on the economy.


Source: Consumer Confidence 2019, July. Statistics Finland

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

Director in charge: Jari Tarkoma

Publication in pdf-format (316.1 kB)

Reviews
Tables

Tables in databases

Appendix tables

Figures

Updated 29.7.2019

Referencing instructions:

Official Statistics of Finland (OSF): Consumer Confidence [e-publication].
ISSN=2669-8889. July 2019. Helsinki: Statistics Finland [referred: 23.8.2019].
Access method: http://www.stat.fi/til/kbar/2019/07/kbar_2019_07_2019-07-29_tie_001_en.html