Home > Statistics > Consumer Confidence > 2021 > June > 1. Examination of response distributions

1. Examination of response distributions

Consumers' own and Finland's economy

In June, 56 per cent of consumers thought that Finland’s economy was now worse than a year ago and 18 per cent of consumers felt that it was better. Fifteen per cent of consumers thought that their own economy is at the moment worse than one year ago. Clearly more consumers or 28 per cent considered their own economy stronger in June than one year ago. The proportions concerning consumers’ own economy were 19 and 27 per cent in May and 19 and 24 per cent one year ago.

In June, as many as 44 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 26 per cent of them thought that the country’s economy would deteriorate. One month previously, the corresponding proportions were 40 and 28 per cent and in last year's June 32 and 43 per cent.

In all, 27 per cent of consumers believed in June that their own economy would improve and 10 per cent of them feared it would worsen over the year. In May, the corresponding proportions were 30 and 10 per cent and twelve months ago 27 and 13 per cent.

Unemployment and inflation

As many as 41 per cent of consumers expected in June that general unemployment in Finland would decrease over the next year, while 30 per cent of them believed it would increase. In May, the respective proportions were 39 and 36 per cent and twelve months ago 24 and 57 per cent.

In June, nine per cent of employed persons believed that their personal threat of unemployment or temporary lay-off had lessened over the past few months, whereas 16 per cent thought it had grown. On the other hand, as many as 47 per cent of employed persons felt that they were not threatened by unemployment or temporary lay-off at all. One month earlier these three proportions were 7, 19 and 43 per cent, and in June last year 3, 37 and 36 per cent.

Consumers estimated in June that consumer prices would go up by 2.8 per cent over the next 12 months. One year ago, the predicted inflation rate was 2.4 per cent and its long-term average is 2.9 per cent.

Saving and taking out a loan

In June, 64 per cent of consumers thought the time was favourable for saving. Twelve months ago, the proportion was only 50 per cent. In June, 65 per cent of households had been able to lay aside some money and 77 per cent believed they would be able to do so during the next 12 months.

In June, 58 per cent of consumers regarded the time good for taking out a loan. One year earlier, the corresponding proportion was only 43 per cent. In June, 19 per cent of consumers were planning to take out a loan within one year. The average long-term proportion is 16 per cent.

Use of money

In June, 35 per cent of consumers considered the time favourable for buying durable goods. Eighteen per cent of consumers planned on increasing and 27 per cent on reducing their spending on durable goods over the next 12 months.

In June, more consumers than usual, or 18 per cent, were either definitely or possibly going to buy a car during the next 12 months. In June, considerably many also considered buying a dwelling within a year: 15 per cent of consumers. The long-term average of intentions to buy a car is 14 per cent and that of intentions to buy a dwelling 13 per cent. In addition, as many as 22 per cent of consumers were planning to spend money on renovating their dwelling within a year.

Source: Consumer Confidence 2021, June. Statistics Finland

Inquiries: Pertti Kangassalo 029 551 3598, Tuomas Parikka 029 551 3276, consumer.confidence@stat.fi

Head of Department in charge: Hannele Orjala

---

Updated 28.6.2021