Consumer confidence at all-time high in Finland

Consumers express strong belief in the growth prospects of the Finnish economy.

Consumer confidence in the Finnish economy increased in September more strongly than ever before, according to Statistics Finland’s regular monthly consumer survey. The consumer confidence indicator stood at 23.0 in September 2010 compared to 21.9 in August and 19.1 in July 2010, and 11.7 in September 2009. The last time that consumer confidence in Finland was equally buoyant was in 1994.

Finnish consumers are especially positive regarding the prospects for the Finnish economy and their own saving possibilities, with both indicators rising from the previous month. As many as 56% of consumers believe that Finland’s economic situation will improve in the coming twelve months, with just 8% thinking that the country’s economy will deteriorate.

Consumers predicted in September that consumer prices would go up by 2.6% over the next 12 months. Saving was considered worthwhile by 66% of consumers compared to 55% a year earlier. An impressive 67% of households had been able to lay aside some money and 81% believed they would be able to do so during the next 12 months.

The data are based on Statistics Finland’s Consumer Survey, for which 1,412 people resident in Finland were interviewed between 1 and 17 September.

Source: Statistics Finland