Consumer confidence at its highest in over three years – OBI Online

Consumer confidence is now at its highest level since February 2013, rising for the fifth consecutive month, according to research company Opinion.

The figures for August show that consumer confidence index (CCI) is 6.2 points, up 1 , 4 points from the previous month.

– future faith has been strengthened gradually throughout the spring and summer, and it is especially belief the country’s economy and labor market over the next 12 months which is considerably stronger now. Not since August 2014, there are several who believe that the country’s economy will be better in 12 months. Not since June 2011, there are several who believe that unemployment will be lower in 12 months, said senior adviser Opinion, Henrik Høidahl in a statement.

Høidahl point out that there are still more people who think that the country’s economy will be worse than better in a year.

– But it has become increasingly less pessimistic and more optimistic since it occurred a kind of change of sentiment in early summer. Then came the overall confidence index from negative to positive, he said.

– The belief in personal finances, however, has taken a bend, for after rising gradually throughout the spring and summer, goes this index now back. But contrary to belief the country’s economy and labor market, there are several who believe that their own finances will be better than worse in 12 months. Norwegians are, in other words more optimistic about their own finances than the country’s economy, he points out.

Høidahl says that although optimism is rising, there are also several who say they will save.

– Saving the index is at its highest level so far this year, which may indicate that many continue to show moderation and want to have a buffer in case it tighter economic times, says Henrik Høidahl. CCI is an average of consumers’ expectations concerning their own and the country’s economy, unemployment and their ability to save for the next 12 months, he said.