New consumer confidence indicator below zero
In May, the new consumer confidence indicator (CCI) stood at -1.8, while in April it was -1.7 and in March -2.4. In May 2018, the CCI received the clearly higher value, 4.1. The average for the CCI since January 2018 is 0.8. The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,034 persons resident in Finland responded between 1 and 15 May.
NB The name of the statistics changed in May from the Consumer Survey to the Consumer Confidence statistics. At the same time, data collection method, sample design, weighting and data content of the statistics changed. The CCI was also renewed . Old statistical data on balance figures have been revised retrospectively to January 2018. More detailed information on the changes can be found below (Concepts), in the Review and on Statistics Finland's web pages: News and Changes in these statistics .
Of the four components of the new CCI, consumers’ views on their own current economy and also the expectations of their own economy in 12 months improved slightly in May compared to April. By contrast, their expectations about Finland’s economy were gloomy. Intentions to spend money on durable goods remained unchanged and consumers had more such intentions in May than average.
The views of consumers’ own current economy were bright, while the expectations on the future were cautious despite improving. In May, expectations concerning Finland’s economy were bleak.
Compared with the corresponding period last year, only views on the current own economy improved slightly in May. Expectations concerning Finland’s economy in general collapsed in a year.