Consumer confidence weakened slightly – strong confidence in their own economy
The consumer confidence indicator (CCI) stood at -3.0 in March, having been -0.8 in February and -0.9 in January. In last year’s March, the CCI received the value -7.1. The long-term average for the CCI is -1.8. The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,080 persons resident in Finland responded between 1 and 21 March.
Of the four components of the CCI, only the estimate concerning consumers’ own economy at present improved in March from February. Consumers' expectations concerning their own economy in 12 months remained unchanged. By contrast, expectations concerning Finland's economy weakened clearly now. Consumers' intentions to spend money on durable goods within one year decreased slightly in March.
Compared with last year's March, the assessment of one's own economy at present was worse this time. The other three components of the CCI improved clearly in a year.
In March, consumers' expectations concerning the development of their own economy were very bright in the coming twelve months and they had fairly plenty of intentions to spend money on durable goods. By contrast, expectations concerning Finland's economy were poor for a change. An estimate of the present state of one's own economy at present represented the long-term average level in March.