Consumer Confidence

Updated: 27 May 2020
Next update: 29 Jun 2020

The Consumer Confidence 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.

   

Consumer confidence recovered to some degree in May

In May the consumer confidence indicator (CCI) stood at -9.0, while in April it was -13.9 and in March -7.1. In last years May the CCI received the value -1.8. The long-term average for the CCI is -1.7. The data are based on Statistics Finlands Consumer Confidence Survey, to which 1,175 persons resident in Finland responded between 1 and 18 May. Information based on the Consumer Confidence Survey on the economic and employment effects of the current corona pandemic has also be published in Statistics Finland's online Tieto&Trendit periodical.

All four components of the CCI improved in May from the previous month. However, expectations concerning Finland's economy improved only slightly. Compared with the corresponding period last year, all the components weakened.

In May, consumers' views on Finland's economic development were still gloomy and close to the historical all-time low in 2008 to 2009. By contrast, consumers' assessments of their own economic situation and especially of its near future were only a little below the long-term average in May. In addition, intentions to spend money on durable goods already returned to their average level in one month.

Statistical release