The consumer confidence indicator in Faroe Islands fell to 0.0 in the second half of 2020 from +5 in the first half. source: Statistics Faroe Islands

Consumer Confidence in Faroe Islands averaged 1.97 points from 2006 until 2020, reaching an all time high of 19 points in the second quarter of 2019 and a record low of -29 points in the second quarter of 2008. This page provides - Faroe Islands Consumer Confidence- actual values, historical data, forecast, chart, statistics, economic calendar and news. Faroe Islands Consumer Confidence - values, historical data and charts - was last updated on January of 2021.

Consumer Confidence in Faroe Islands is expected to be 10.52 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Faroe Islands to stand at 10.33 in 12 months time. In the long-term, the Faroe Islands Consumer Confidence is projected to trend around 10.35 points in 2021 and 10.34 points in 2022, according to our econometric models.

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Faroe Islands Consumer Confidence

Actual Previous Highest Lowest Dates Unit Frequency
0.00 5.00 19.00 -29.00 2006 - 2020 points Quarterly

Faroe Islands Consumer Last Previous Highest Lowest Unit
Consumer Confidence 0.00 5.00 19.00 -29.00 points [+]
Economic Optimism Index -16.00 32.00 47.00 -29.00 points [+]

Faroe Islands Consumer Confidence
In Faroe Islands, the consumer confidence survey is based on 15 questions posed to 500-550 consumers twice a year. The balances that are calculated for each question on the basis of weighted averages (ranging from -100 to +100) show estimated own financial situation and economic situation of the country. The consumer index is average of the questions: 1) Expected financial situation of the household in 12 months compared to now (balance), 2) Expected general economic situation in Faroe Islands in 12 months compared to now (balance), 3) Expected number of unemployed people in 12 months (balance) and 4) Expected money savings of the household over the next 12 months (balance).