Consumer confidence in the Finnish economy remains strong

Prospects for the Finnish economy are seen as much more positive than one year ago.

A clear majority of Finnish consumers believe that Finland’s economic situation will improve this year, according to a new survey by Statistics Finland. The survey results show that in January 2010, 57 per cent of consumers believed that Finland's economic situation would improve in the coming twelve months, while just 14 per cent thought that the country's economy would deteriorate, according to Statistics Finland. Consumer confidence in the Finnish economy was also much higher in January 2010 than in the same period one year ago.

The findings continue the strong positive trend already observed in consumer confidence towards the end of 2009. The consumer confidence indicator calculated by Statistics Finland stood at 14.5 in January, having been 14.4 in December and 10.9 in November.

Consumers regarded January as a favourable time especially for purchasing durable goods. Many households had plans to spend money on, for example, entertainment electronics, hobby equipment, and travel in the next six months.

The data is based on Statistics Finland's Consumer Survey, for which 1,421 people resident in Finland were interviewed between 4 and 19 January 2010.

Source: Finnish statistics