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Consumers believe Finland’s economy and employment will improve

Staff Writer |
Consumers’ confidence remained strong in April. The consumer confidence indicator (CCI) stood at 21.5 in April, having been 22.9 in March and 20.8 in February.

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Last year in April, the CCI received the value 9.8. The long-term average for the CCI is 11.9.

The data are based on Statistics Finland’s Consumer Survey, for which 1,199 people resident in Finland were interviewed between 3 and 18 April.

Of the components of the CCI, expectations concerning general economic development or Finland’s economy and unemployment improved slightly in April compared to March.

In contrast, views on one’s own economy and saving possibilities weakened somewhat.

Compared with the corresponding period last year, all components strengthened apart from saving possibilities.

In April, consumers’ views on Finland’s economy were very positive. Views concerning one's own economy and unemployment development were also optimistic.

The confidence in decreasing unemployment was highest in a decade and the views on Finland’s economy were the best since 2010. In April, consumers considered their household's saving possibilities average over the next 12 months.

In April, consumers regarded the time favourable for buying durable goods and especially for taking out a loan but not so much for saving. Employed consumers felt in April that their personal threat of unemployment has decreased clearly in recent months.

In April, as many as more than one-half, or 52 percent, of consumers believed that Finland’s economic situation would improve in the coming twelve months, while only 10 percent of them thought that the country’s economy would deteriorate.

The corresponding proportions were 46 and 11 percent in March and 35 and 23 percent one year ago in April.

In all, 28 percent of consumers believed in April that their own economy would improve, while 10 percent of them feared it would worsen over the year.

One month earlier, the corresponding proportions were 31 and 9 percent, and one year earlier 28 and 15 percent.

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