Russia Consumer Confidence Q1 2017

Russia

Russia: Consumer confidence continues to improve in Q1

April 11, 2017

The consumer confidence indicator published by the Federal Statistics Service (Rosstat) registered a fourth consecutive period of improvement in Q1 2017, rising to minus 15 points from minus 18 points in Q4 2016. Despite the advance, the index remains firmly entrenched below the 0-threshold, which indicates that pessimists outnumber optimists.

In a statement, the statistical office commented that Q1’s improvement was broad-based. According to the survey, households evaluated the country’s current economic situation less negatively and they were notably more optimistic about the country’s economic prospects in the coming year. Moreover, consumers were less pessimistic regarding both their financial standing and economic expectations in the next 12 months. Finally, consumers assessed their likelihood of purchasing big-ticket items as more favorable than a year ago.

Following two years in contraction, private consumption will rebound this year. FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.7% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, panelists expect private consumption to increase 2.3%.


Author:, Senior Economist

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Russia Consumer Confidence Q1 2017

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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