Russia Consumer Confidence Q2 2017

Russia

Russia: Consumer confidence continues to improve in Q2

July 14, 2017

The consumer confidence indicator published by the Federal Statistics Service (Rosstat) registered a fifth consecutive period of improvement in Q2 2017, rising to a multi-year high of minus 14 points from minus 15 points in Q1 2017. 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 more optimistic about the country’s economic prospects in the coming year. Moreover, consumers were less pessimistic regarding their financial standing.

Following two years in contraction, private consumption will rebound this year. FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.5% in 2017, which is unchanged from last month’s projection. For 2018, panelists expect private consumption to increase 2.2%.


Author:, Senior Economist

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