Consumers' expectations concerning their own savings possibilities

Last updated 18/03/2021 - 12:43

Consumers’ trust in their personal saving possibilities remains steady

According to the January Consumer Survey by Statistics Finland, nearly 80 per cent of consumers in the Helsinki Metropolitan Area believe that they are fairly or very likely to be able to save money during the next year. Only one in five do not find it likely that they might save any money. With the exception of a temporary drop in April, the balance figure for personal saving possibilities has remained at 50 for a long period of time.

In January, the balance figure was 55.1 for the Helsinki Metropolitan Area and 50.1 for the entire country. These figures are higher than the average for the autumn – and, in fact, higher than at any point since September 2019. This result is indicative of restored faith in the future among respondents.

Statistics Finland renewed the data collection method of the consumer confidence indicator in May 2019, 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.