Highest Finnish consumer confidence in a year

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Consumers’ confidence in the economy improved in May.

According to Statistics Finland, it was a year ago Finnish consumers were this positive.

Consumers’ expectations concerning Finland’s economy and unemployment, as well as their own saving possibilities improved in May compared to April.

In contrast, views on one’s own economy weakened slightly.

In May, 39 percent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 22 percent of them thought that the country’s economy would deteriorate. In all, 26 percent of consumers believed in May that their own economy would improve and 14 percent of them feared it would worsen over the year. In April, these proportions were 28 and 15 percent.

45 percent of consumers thought the time was favourable for buying durable goods. Households had more plans to acquire hobby and sports equipment than before. Fifteen percent of households were fairly or very certain to buy a car and eight percent a dwelling during the next 12 months. In May, 21 percent of households were planning to spend money on renovating their dwelling within a year.

The consumer confidence in the economy was weaker than in the rest of country in rural areas of Southern Finland and in Eastern Finland. Among population groups, entrepreneurs and upper-level salaried employees were most optimistic. Pensioners and unemployed persons had the gloomiest expectations concerning economic development.