Household expectations concerning their own economy

Last updated 27/09/2019 - 13:42

One in two consumers expect no change in their own financial position

According to the Statistics Finland’s Consumer confidence statistics interviews in July, one in two consumers in the Helsinki Metropolitan Area assumed that their financial situation would remain unchanged in the next 12 months. In the whole country, the share of consumers with this opinion was even a little bit higher. In the Helsinki Metropolitan Area, one consumer in three expected that it would be slightly better, and seven consumers in one hundred are expecting a much better personal financial situation in 12 months. The expectations in the whole country were more subdued with four consumers out of a hundred having confidence in a much better financial situation and every fourth consumer assuming that their financial situation would be slightly better in 12 months. One out of ten consumers in the Helsinki Metropolitan Area assume that their financial situation will weaken. This proportion was higher in the whole country with 16 per cent of consumers expecting a weakening of their own finances.

Statistics Finland renewed the data collection method of the consumer confidence indicator in May of this year, and the figures are therefore not comparable with previous figures. The age categories of interviewees were altered a little bit and the sample size was reduced somewhat. The data content is also more limited, and all questions now concern the person themselves, not their household. The components of the new confidence indicator are: the consumer’s own current finances, the consumer’s own finances in 12 months, Finland’s economy in 12 months and the consumer’s spending on consumer durables in the next 12 months compared to the previous 12 months.