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Consumer confidence in Finnish economy dips during March

Survey respondents rated their own financial situation as the best-ever, with the highest measurement since records began.

Lähes autio Mall of Tripla maaliskuussa 2021.
File photo of Tripla shopping mall. Image: Silja Viitala / Yle
Yle News

The average person's assessment of the Finnish economy worsened slightly in March, according to survey data from Statistics Finland.

The consumer confidence indicator (CCI) for March stood at -3.0, down from -0.9 and -0.8 in January and February respectively.

Expectations of where the national economy would be in 12 months "weakened clearly", Statistics Finland said, with people's view of the unemployment situation also growing gloomier.

The CCI for March last year was -7.1. The long-term average for the economic indicator is -1.8.

However, respondents to the survey rated their own financial situation as the best-ever, with the highest measurement recorded since records began in 1995.

Consumers regarded March as a good time for saving, but poor for taking out a loan or buying durable goods, Statistics Finland said. Despite this, many survey respondents still indicated plans to borrow money within the next year, with plans to buy or renovate a home a common factor.

According to Statistics Finland, consumer confidence in the economy was strongest in the Helsinki capital region (CCI 1.2) and weakest in northern Finland (-8.3). Demographically, students were most optimistic (7.4), while unemployed people had the most pessimistic view of the nation's economic outlook (-12.9).

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