CONSUMER CONFIDENCE has climbed to an almost three-year high in Finland.
Statistics Finland on Tuesday reported that its consumer confidence index jumped from -3.0 in March to 3.8 in April, representing a new high since May 2018. The share of respondents confident in the economic situation improving in the coming 12 months jumped from 27 per cent to 38 per cent.
An equivalent change was registered in the share of respondents confident in unemployment decreasing in the coming 12 months, from 20 to 31 per cent.
The share of respondents who expected their own economic situation to improve in the coming months fell from 32 to 29 per cent, whereas that of respondents who expected their own economic situation to deteriorate fell from 11 to 10 per cent.
The results of the consumer confidence survey are historic in a couple of respects, highlighted STT: the respondents estimated not only that their own financial situation is better than ever before in the history of the index, but also reported an unprecedentedly high willingness to borrow, with 24 per cent of them revealing they plan on taking out a loan in the next 12 months.
Statistics Finland has recently reported that more and more consumers are interested in buying a house. The same trend continued this month, with as many as one in six respondents stating that they are considering buying a house in the coming 12 months.
About 1,000 people responded to the latest iteration of the consumer confidence index.
Aleksi Teivainen – HT