Finnish consumer sentiment indicator rises in December

Finland’s consumer sentiment indicator rose slightly in the month of December. The indicator rose to 24 from November’s 23. The consumer confidence indicator in December of last year had come in at 19.5. The average for the indicator this year was record high at 22.9. The long-term average for 1995 to 2017 is 12.2, noted Statistics Finland.

Out of four components of the consumer confidence indicator, expectations of consumers’ own and Finland’s economy and of household’s saving possibilities improved slightly in December from November. In turn, estimates of the development of unemployment weakened slightly. Compared with the corresponding period last year, all the components of the indicator apart from saving possibilities improved clearly.

Consumers’ expectations about Finland’s economy and unemployment were quite bright in December. Consumers’ assessments about their own economic situation and saving possibilities were also good.

Consumers have regarded the time very favorable for taking out a loan and for saving very favorable. Purchasing of durable goods was also considered worthwhile. Employed consumers felt in December that their personal threat of unemployment has dropped much in recent months.

Consumers anticipated in December that consumer prices would rise 1.6 percent in the next 12 months. The predicted long-term average inflation rate is 2.2 percent.

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