Confidence in the country’s economy is rising

Confidence in the country's economy is risingConfidence in the country's economy is rising: Berit Roald / NTB scanpix

Confidence in the country’s economy and the job market is now at its highest level since April last year, new figures show.

The Consumer confidence index (CCI) was on minus 3.6 points in May, up 0.8 points from April, according to the Opinion’s May poll. The index has been negative 20 months in a row, but is now 2.7 points above average for 2015 and rising for the second month in a row.

“We see weakly increased expectations for both one’s personal finances and the country’s economy in twelve months. The biggest gains are for the expectations of their own personal finances, “said Henry Høidahl, senior adviser in the Opinion.

The bottom point for the consumer confidence was reached in November and December last year, after a negative development over several months. Then, there were also more that expected that their own finances would be worse in twelve months.
-The figures for this year’s first five months show that these expectations are still relatively low, but they are rising in May, for the second month in a row, and the CCI is at its highest level since April 2015, says Henry in Us.

CCI is an average of the consumers’ expectations of their own and the country’s economy, unemployment and their opportunities to save the coming 12 months.

 

Source: NTB scanpix / Norway Today

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