Skip to content
The article is more than 5 years old

Finland’s consumer confidence up, unemployment fears down

Finland's statistics agency reports that consumers in May were very confident about their own personal financial situations and the country's economy, overall.

Kauppakeskus Iso Omena Espoon Matinkylässä
File photo. Image: Ilkka Klemola / Yle
Yle News

Finnish consumers' expectations about the economy were very bright in May, according to Statistics Finland. Employed consumers also voiced confidence that their jobs felt secure.

The country's consumer confidence indicator (CCI) stood at 24.8 in May, while it was 23.2 in April, according to the statistics agency. The CCI in May of last year was 24.1.

According to the fresh figures, an increased number of Finnish consumers also feel the possibility of putting some money aside in savings was good, compared to the previous month.

While no real change was seen between April and May regarding the national economy and unemployment risk, consumers in Finland are more confident than they were a year ago.

"Compared with the corresponding period last year, confidence in one’s own economy and especially in decreasing unemployment strengthened. By contrast, expectations concerning Finland's economy weakened slightly over the year and expectations concerning saving possibilities remained more or less unchanged," Statistics Finland wrote in a press release issued Monday.

In May, consumers said their household's financial situation was "exceptionally good," according to the agency.

"The time was regarded very favourable for taking out a loan and for saving, and also good for buying durable goods. Employed consumers felt stronger than ever in May that their personal threat of unemployment had decreased in recent times," the agency stated.

The CCI data was compiled using Statistics Finland's Consumer Survey, which was carried out during the first three weeks in May, querying some 1,114 residents.

Latest: paketissa on 10 artikkelia

Prime Minister Petteri Orpo (NCP) said on Sunday that his government plans tougher penalties and other means to ensure that gang-related crime in Finland does not explode as it has in Sweden.