Confidence in the state economy

The average so-called consumer confidence index is currently at 32, which is the highest level since 2014.

The consumer confidence index (CCI) is an economic indicator that measures future developments of household consumption and savings, based on answers regarding their expected financial situation, their feelings regarding the general economic situation, unemployment and capability of saving.

Difference across sectors

The CCI is based on an aggregate of surveys in five sectors: households, the primary industry, the construction industry, trade, and the service industry.

Compared to last year’s survey, the greatest increase in consumer confidence was in the service industry, where the CCI went up from 39 to 55 and in the primary industry, where the figure went up from 13 to 35. Trade CCI went up from 23 to 29.

Household and construction industry figures, however, went down – from 19 to 5 and from 13 to 1, respectively.

Translated by prosa.fo