Russia Consumer Confidence


Consumer confidence deteriorates in Q3

The consumer confidence index published by the Federal State Statistics Service (Rosstat) inched down to minus 7.0% in the third quarter, down from the minus 6.0% observed in Q2 2013. The reading marks the first decline after three consecutive periods of improvement in the index. The moderation in Q3 was broad-based, as all of the five categories that comprise the index fared worse compared to the previous quarter. In particular, respondents to the survey have a worse opinion regarding the current state of the Russian economy and appear to be increasingly worried regarding the future economic prospects of the country. Accordingly, prospects for large purchases deteriorated over the previous quarter. FocusEconomics Consensus Forecast panelists expect private consumption to grow 4.5% in 2013, which is down 0.1 percentage points from last month's projection. Next year, panelists expect private consumption to grow 4.6%, which is down 0.2 percentage points from last month's projection.

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Russia Consumer Confidence Chart

Russia Consumer Confidence Q3 2013

Note: Consumer Confidence Index. Values above 0 indicate an optimistic outlook while values below 0 indicate a pessimistic outlook.
Source: Federal State Statistics Service (Rosstat).

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