02.03.2012

Consumer confidence improved in Finland during February

Despite moderate consumption intentions, 42% of consumers thought the time was favourable for buying durable goods and 17% of Finnish households expected to buy a car.

According to Statistics Finland, consumers’ expectations concerning their possibilities for saving and the general development of the Finnish economy improved in February compared to the month before. In February, 29% per cent of consumers believed that Finland’s economic situation would improve in the coming twelve months, while 30% per cent of them thought that the country’s economy would deteriorate. In January, the corresponding figures were 21% and 42%.

Consumers’ expectations regarding unemployment remained negative. Overall, 24% of consumers believed in February that their own economy would improve while 15% feared it would worsen over the year. Consumption intentions were still more moderate than usual in February, but many households had plans to spend money, for instance, on home repairs or travel during the next six months.

In February, 42% of consumers thought the time was favourable for buying durable goods and 17% of households were fairly or very certain to buy a car. The proportion of Finnish households that were fairly or very certain to buy a dwelling during the next 12 months was 9%, which was higher than the average.

Source: Statistics Finland