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Published: 27 January 2022

Consumer confidence average in January

The balance figure of the consumer confidence indicator (CCI) stood at -1.7 in January, having been -3.5 in December and 1.2 in November. In last year's January, the CCI received the value -0.9. The long-term average for the CCI is -1.7. The data are based on Statistics Finland’s Consumer Confidence Survey, to which 962 persons resident in Finland responded between 1 and 19 January.

Consumer confidence indicator (CCI)

Of the four components of the CCI, expectations concerning consumers’ own economic situation in 12 months were very bright in January. Consumers' views of their own economy at present were also positive and intentions to buy consumer durables were also fairly strong. By contrast, expectations concerning Finland's economy were fairly weak in January.

Compared with December, the estimate on Finland's future economic situation weakened only slightly in January. The other three components strengthened. Compared with January last year, expectations concerning Finland's economy slowed down more clearly, while the other CCI components improved slightly or remained unchanged.

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

Consumers’ expectations concerning the development of the general unemployment situation in Finland weakened in January but remained on the long-term average level. At the same time, the personal threat of unemployment or temporary lay-off experienced by employed persons, i.e. wage and salary earners and self-employed persons, increased somewhat. In January, consumers’ estimates and expectations concerning inflation remained more or less unchanged and clearly higher than their long-term averages.

Consumers continued to regard their own financial situation as excellent in January. The time was still considered fairly favourable for saving, reasonable also for raising a loan but poor for buying durable goods. Saving possibilities were expected to be fairly high in the coming months.

In January, consumers again had considerably plenty of intentions to buy a dwelling or build a house. Plans for home repairs were also numerous. Very many were also considering buying a car during the next 12 months. As in the past few months, interest in raising a loan was also very common in January.

Consumer confidence by major region and population group

In January, consumer confidence was, as usual, clearly strongest in Greater Helsinki (CCI 4.7). This time, confidence was weakest in Western Finland (-5.6). Among population groups, upper-level salaried employees were most optimistic in January (9.0). Unemployed persons had the gloomiest expectations concerning economic development (-10.2).

Consumer confidence usually decreases with the person’s age, and correspondingly the confidence typically increases as income grows. Men are likely to have better confidence in the economy than women. More detailed information is available in the Database tables .

EU results

The (seasonally adjusted) survey results concerning economic expectations 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 balance figure, the brighter the view on the economy.

Source: Consumer Confidence 2022, January. Statistics Finland

Inquiries: Pertti Kangassalo 029 551 3598, Tara Junes 029 551 3322, consumer.confidence@stat.fi

Head of Department in charge: Hannele Orjala

Publication in pdf-format (423.2 kB)

Reviews

• 1. Examination of response distributions (27.1.2022)
• 2. Method of the Consumer Confidence Survey (27.1.2022)

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) (27.1.2022)

Figures

• Appendix figure 1. Consumer confidence indicator (CCI) (27.1.2022)
• Appendix figure 2. Own economy (27.1.2022)
• Appendix figure 3. Finland's economy (27.1.2022)
• Appendix figure 4. Inflation (27.1.2022)
• Appendix figure 5. Unemployment (27.1.2022)
• Appendix figure 6. Favourability of time for (27.1.2022)
• Appendix figure 7. Own financial situation and saving possibilities (27.1.2022)
• Appendix figure 8. Intention to raise a loan, next 12 months (27.1.2022)
• Appendix figure 9. Spending on durables, next 12 months vs. last 12 months (27.1.2022)
• Appendix figure10. Intentions to buy, next 12 months (27.1.2022)

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Updated 27.1.2022