Russia Consumer Confidence Q2 2021

Russia

Russia: Consumer confidence ticks down in Q3

September 22, 2021

The consumer confidence index, published by the Federal Statistics Service (Rosstat) on 22 September, fell to minus 19 points in the third quarter, from minus 18 points in Q2, marking the first deterioration since Q4 2020. As a result, the index fell further below the 0-point threshold, where it has been since Q3 2008, signaling that pessimists continued to firmly outnumber optimists in the Russian economy.

Looking at the details of the release, the deterioration was mostly driven by a deterioration in consumers’ sentiment towards the expected changes in the economic situation in Russia. Moreover, propensity to make large purchases declined, while propensity to save rose. Meanwhile, consumers’ expectations of personal financial situation and their assessment of changes in the Russian economy over the past year remained unchanged.

FocusEconomics panelists project private consumption to increase 6.4% in 2021, which is up 0.2 percentage points from last month’s projection. For 2022, panelists see private consumption growing 3.0%.


Author:, Research Team Manager

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Russia Consumer Confidence Q3  2021

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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