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Published: 27 June 2019

Consumer confidence sank in June

In June, the consumer confidence indicator (CCI) stood at -4.6, while in May it was -1.8 and in April -1.7. Last year in June, the CCI received the value 1.7. The average for the CCI since January 2018 is 0.5. The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,019 persons resident in Finland responded between 1 and 17 June. The survey methods were revised in May.

Consumer confidence indicator (CCI)

Of the four components of the CCI, only intentions to spend money on durable goods remained unchanged in June from May. The other components weakened clearly. Expectations concerning Finland’s economy in general were very pessimistic. Views on consumers’ own economic situation now and in the future were also weak. Consumers’ intentions to spend money on durable goods were higher than average in June.

In June, the CCI components weakened compared with the corresponding period last year as well, apart from intentions to spend money. Especially expectations concerning Finland's economy plummeted over the year.

Consumers' expectations concerning their own and Finland's economy in 12 months' time

In June, consumers considered their own financial situation weaker than previously. The time was, in general, regarded favourable for raising a loan, but not so much for saving or buying durable goods. In June, employed consumers 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.

Consumer confidence by major region and population group

In June, consumers' confidence in the economy was strongest in Greater Helsinki (CCI -0.1) and weakest in Eastern Finland (-10.3). Among population groups, upper-level salaried employees were most optimistic (1.3). Pensioners clearly had the gloomiest expectations concerning economic development (-13.8). More information can be found in Database tables .

EU results

The (seasonally adjusted) Consumer Survey results 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, June. 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 (314.1 kB)

Reviews

• Review (27.6.2019)

Tables

Tables in databases

Pick the data you need into tables, view the data as graphs, or download the data for your use.

• Database tables and their variables
• Archived tables

Appendix tables

• Appendix table 1. Consumers' views and intentions 1) (27.6.2019)

Figures

• Appendix figure 1. Consumer confidence indicator (CCI) (27.6.2019)
• Appendix figure 2. Own economy (27.6.2019)
• Appendix figure 3. Finland's economy (27.6.2019)
• Appendix figure 4. Inflation (27.6.2019)
• Appendix figure 5. Unemployment (27.6.2019)
• Appendix figure 6. Favourability of time for (27.6.2019)
• Appendix figure 7. Consumers financial situation and saving possibilities (27.6.2019)
• Appendix figure 8. Consumers intentions to raise a loan, next 12 months (27.6.2019)
• Appendix figure 9. Consumers spending on durables, next 12 months vs last 12 months (27.6.2019)
• Appendix figure10. Consumers intentions to buy, next 12 months (27.6.2019)

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Updated 27.6.2019