Consumers’ confidence in the Finnish economy strengthened
Of the four components of the consumer confidence indicator, expectations concerning development of unemployment and Finland’s economic situation improved further in July compared with the previous month. Also personal threat of unemployment experienced by employed persons declined in July. Consumers’ views about their own economy and saving possibilities in the coming months weakened slightly, but were still bright.
In July as many as 51 per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while only 10 per cent of them thought that the country’s economy would deteriorate. Up to 63 per cent of the participating consumers considered this to be a good time for saving money. One year ago the corresponding number was 56 per cent of the participating consumers. A total of 64 per cent of households had been able to lay aside some money and 75 per cent believed they would be able to do so during the next 12 months. Most households save money for a rainy day. After the popular fixed-term or investment accounts, the most common investment targets are insurances and investment funds.
The data are based on Statistics Finland’s Consumer Survey, for which 1,263 people resident in Finland were interviewed between 1. and 19. July 2010.
Statistics Finland
Comments (5)