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Fast Comment FinlandConsumer confidence still high despite a slight weakening

  1. Consumer confidence falls slightly to 24.7 in March
  2. Three components of CCI decreased m-o-m
  3. Households feel that their current finances are better than ever
Consumer confidence falls slightly to 24.7 in March
After a record high reading of 25.8 in February, Finland's consumer confidence indicator (CCI) decreased slightly to 24.7 in March. In March 2017, CCI was 22.9. The confidence indicator’s long-term average is 12.4.
Three components of CCI decreased m-o-m
Of the four components of CCI, consumers' expectations for their own economy, Finland’s economy, and unemployment in Finland weakened somewhat compared with the previous month. A larger decline in CCI was avoided because of a more than three-point improvement in households' assessment of their opportunities to save.
Households feel that their current finances are better than ever
Consumer confidence remained at its second highest level on record (since October 1995) in March. Consumers feel upbeat and compared with historical averages, confidence is exceptionally strong regarding Finland’s economy and unemployment in Finland in 12 months’ time. However, the sub-indicator for Finland’s economy in 12 months’ time has remained more or less stable for over a year. The consumer survey also revealed that households' view of their current finances is better than ever. In addition, a record-high percentage of households (70.4 percent) said they are able to save money at the moment. Overall, we expect strong consumer sentiment, improved employment rates, higher wage increases and low interest rates to support private consumption in 2018.

 



Disclaimer

Janne Ronkanen

Senior Economist

Finland

jaro06@handelsbanken.se

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