Norwegian consumers’ confidence in the economy has been considerably strengthened over the past year. In January, for the eighth consecutive month, optimists outnumbered pessimists.
2017 has begun with a Consumer Confidence Index (CCI) rating of 5.9 points, shows a measurement from Opinion polling organization. This is an increase of 1.3 points since December 2016, and 16.1 points higher than a year ago.
Both 2015 and 2016 started with more pessimists polled than optimists, but from June last year the trend reversed after there had been a negative index for 20 consecutive months.
‘The main driver of the strengthened consumer confidence in January is our belief in an improved jobs market. There’s been a considerable fall in the index of unemployment over the past year’, said senior adviser, Henrik Høidahl, of Opinion.
In January, 35% responded that they think unemployment will be higher in a year, while 27% said they believe it will be lower. By comparison, these figures were respectively 79% and 8% a year ago.
CCI shows averages for consumers’ expectations concerning their own, and the country’s economy, unemployment and opportunities for saving over the course of the next 12 months.
Source: NTB scanpix / Norway Today