The balance figure of the Consumer Confidence Indicator (CCI) stood at minus 7.4 in April, having been minus 8.2 in March and minus 9.0 in February, according to Statistics Finland.
One year ago in April, the CCI received the value minus 12.6. The long-term average for the CCI is minus 2.7.
The data are based on Statistics Finland’s Consumer Confidence Survey, to which 1,219 persons resident in Finland responded between 1 and 15 April.
In April, as in March, consumer confidence was strongest in Eastern Finland (CCI minus 5.0) and weakest in Southern Finland outside Greater Helsinki (minus 9.6).
Among the socio-economic groups, lower-level salaried employees were now most optimistic (minus 2.2) in place of self-employed persons.
Pensioners clearly had the gloomiest expectations concerning economic development (minus 14.7).
Women (minus 9.7) still described economic development in April as clearly gloomier than men did ( minus 5.1).
In April, consumers' previously subdued views on Finland's economic development weakened compared to March.
By contrast, estimates of consumers' own economy at present improved but were still very weak. Expectations concerning one's own economy in 12 months' time also rose slightly in April.
Twenty-six per cent of consumers thought in April that their own economy was weaker at the time of the survey than one year ago. Twenty-three per cent of consumers regarded their own economy stronger than in the previous year. Sixty-four per cent of consumers thought in April that Finland’s economic situation was worse than one year earlier, and only eight per cent saw it as better.
In April, only 19 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 41 per cent of them thought that our country’s economy would deteriorate. In all, 28 per cent of consumers trusted in April that their own economy would improve and 17 per cent of them feared it would worsen over the year.
Consumers' expectations concerning the development of the general unemployment situation in Finland became gloomier to a very weak level in April.
Only 13 per cent of consumers expected that unemployment would decrease over the next year and as many as 61 per cent reckoned it would increase.
Employed consumers, that is, wage and salary earners and self-employed persons, reckoned in April that their personal threat of unemployment or lay-off was high. Only five per cent of employed persons believed that their personal threat had lessened and 28 per cent thought the risk had grown. On the other hand, 40 per cent of employed persons felt in April that they were not threatened by unemployment or temporary lay-off at all.
In April, consumers' estimates of the inflation at the time of the survey and concerning price changes in one year's time were unchanged and high.
Consumers estimated in April that consumer prices have risen by 5.4 per cent from April last year and would go up by 4.2 per cent over the next year.
Altogether 64 per cent of consumers thought that consumer prices have risen much or fairly much over the year, and over one half or 56 per cent of them expected prices to rise at least at the same rate over the coming months as well.
In April, the time was still regarded very poor for taking out a loan and also for saving. Twenty-nine per cent of consumers regarded the time favourable for taking out a loan and 40 per cent considered saving worthwhile. However, intentions to raise a loan were on the usual level in April. Fifteen per cent of consumers were planning to raise a loan within one year.
Consumers' assessment of their own financial situation was in April similar to the long-term average. Consumers estimated that they would still have slightly fewer saving possibilities than usual in the coming months. Fifty-five per cent of households had been able to lay aside some money and 71 per cent believed they would be able to do so during the next 12 months.
In April, the time was still regarded very unfavourable for buying durable goods. Only 12 per cent of consumers thought the time was favourable for making expensive purchases.
Consumers’ intentions to spend money on durable goods in the next 12 months continued fairly low in April – regardless of a small increase.
In April, 13 per cent of consumers estimated that they would increase and 37 per cent would reduce their spending on durable goods over the next 12 months.
Even slightly more than usual were planning to buy a car within 12 months. By contrast, fewer consumers than usual had plans to buy a dwelling or make renovations to their dwelling.
In April, 15 per cent of consumers were either definitely or possibly going to buy a car within the next 12 months. Eleven per cent of consumers considered buying a dwelling or building a house. Sixteen per cent of consumers were planning to spend money on renovating their dwelling during the next 12 months.
Source: www.dailyfinland.fi
