Consumer Confidence

Updated: 27 Mar 2020
Next update: 27 Apr 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 weakened in March – trust in own economy

The consumer confidence indicator (CCI) stood at -7.1 in March, having been -4.5 in February and -4.6 in January. In last years March, the CCI received the value -2.3. The long-term average for the CCI is -1.7. The data are based on Statistics Finlands Consumer Confidence Survey, to which 1,053 persons resident in Finland responded between 2 and 19 March. The majority of responses were received before 13 March, that is, prior to the Governments restrictive measures related to the coronavirus pandemic. Statistics Finland will publish actual inquiry data on the economic effect of the pandemic during April .

In March, of the four components of the CCI, expectations concerning Finland's economy weakened clearly and intentions to acquire durable goods decreased compared with February. In contrast, views on ones own economy at present and in the near future improved somewhat. Compared with the corresponding period last year, the components of the CCI weakened apart from intentions to spend money that increased slightly in a year.

In March, consumers image of their own economy was altogether good, while their views concerning spending money were average and about economic development in Finland gloomy.

Statistical release