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Consumer confidence in Finland remains weak during March

Even though consumer confidence figures are low, they are trending upwards.

Näkymä Porin Puuvillan kauppakeskuksen ylätasanteelta.
A shopping mall in Pori. File photo. Image: Katja Halinen / Yle
Yle News

Consumer confidence is still very weak, but has been steadily climbing upward, according to preliminary data published on Monday by Statistics Finland.

The consumer confidence indicator (CCI) was -10.8 in March, compared to -11.9 in February and -12.7 in January.

In December 2022, the CCI dipped down to a record low of -18.5.

Compared to last year, respondents to the survey reported having weaker assessments of their own economic outlooks. However, consumers' own financial situation and saving possibilities were assessed as fairly good.

Despite this, expectations of the Finnish economy were much brighter this year than in March of 2022, when Russia's invasion of Ukraine triggered economic uncertainty in Finland.

Sami Pakarinen, director of the Confederation of Finnish Industries said in a press release that despite the persistent gloomy outlook, sales have increased compared to previous months and expectations of sales are increasing.

At the same time, a report published last week showed that nearly 900,000 people in Finland were at risk of falling into poverty or being marginalised in 2021.

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