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PRESS RELEASE CONSUMER TENDENCY SURVEY. AUGUST 2010
Households increasingly positive to saving
Household optimism regarding the economy continued to increase in August. The Consumer Confidence Indicator(CCI),which measures confidence in personal finances and the Swedish economy, rose 1.9 points to 25.2 in August. This means that attitudes to the economic situation are considerably more positive than normal. Both the Macro Index and the Micro Index increased in August, the former rising 1.3 points to 38.9 and the latter 1.6 points to 9.8.
Personal finances: More households than in July consider that their personal finances are currently better than a year ago. More households are also positive one year ahead and expect their personal finances to improve in the next 12 months. A larger number of households than in July consider that it is currently advantageous to save and more expect to be able to save in the next 12 months. Just over 70 per cent of households respond that they are currently saving a small or large amount, 5 per cent that they are incurring debt and 24 per cent that they are neither saving nor incurring debt. Consequently, more households are saving and fewer are incurring debt than last month. Swedish economy: Optimism regarding the Swedish economy has also increased since last month. This applies to both household attitudes to the current economic situation compared with 12 months ago and expectations one year ahead. Around one in two households consider that the economic situation is currently better than a year ago and a similar number expect the Swedish economy to improve in the next 12 months. Consumer confidence in the economic situation is considerably more positive than normal as is confidence in the labour market. Inflation and wage expectations: Household inflation expectations one year ahead were 2.0 per cent in August, which is 0.4 points lower than in July. Wage increases in the next 12 months are expected to be 3.0 per cent, compared with 2.9 per cent in July. Interest rate expectations: Household expectations of the variable home loan rate in one year´s time were 3.4 per cent, as in July. Interest rate expectations two years ahead are unchanged on last month at 4.2 per cent. The expected rate in five years´ time also remains unchanged at 4.5 per cent.
| CCI
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4,7
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30,0
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-38,3
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22,0
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23,3
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25,2
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++
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| Macro index
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-2,6
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47,3
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-69,8
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36,8
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37,6
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38,9
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++
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| Micro index
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5,3
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18,8
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-21,3
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8,0
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8,3
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9,8
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+
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| Unemployment over the next 12 months
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4,4
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79,8
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-59,8
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-38,0
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-37,7
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-35,9
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++
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| Expected inflation 12 months ahead
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2,1
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3,7
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0,5
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2,4
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2,4
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2,0
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¹) ++ The situation is very strong, + The situation is strong, - The situation is weak, -- The situation is very weak
Consumer Confidence Indicator (CCI)
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Roger KnudsenDirector of Economic Tendency SurveyPhone: +46-8-453 59 06Mobile: +4670491 36 04Maria Andersson
Director of Consumer Tendency Survey
Phone: + 46-8-453 59 52 Sarah Hegardt Grant
Press Contact
Phone: +46-8-453 59 11
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