Consumer confidence in the Finnish economy weakened in March

Consumer confidence in the Finnish economy weakened in March

According to Statistics Finland’s survey, the average person’s assessment of the Finnish economy weakened slightly in March.

The consumer confidence indicator was -3.0 in March, down from -0.9 in January and -0.8 in February.

Expectations of where the economy would be in 12 months "clearly impaired"Statistics Finland said that people’s perception of the unemployment situation is also growing gloomier.

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

However, the respondents rated their own financial situation as the best ever, and the highest measurement result has been recorded since 1995.

Consumers considered March to be a good time to save, but bad to take out a loan or buy durable goods, Statistics Finland said. Despite this, many respondents still said they plan to borrow money over the next year, and buying or renovating a home is a common factor.

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

Source: The Nordic Page

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