Russia: Consumer confidence deteriorates for second consecutive quarter
January 11, 2013
The consumer confidence index published by the Federal State Statistics Service (Rosstat) dropped to minus 8.0% in the fourth quarter, down from the minus 6.0% observed in the third quarter. The reading marked the second consecutive decline after five quarters of improvement.
Respondents to the survey showed a more pessimistic evaluation as well as more negative expectations regarding both the general economy and their personal financial situation. Against this backdrop, prospects for large purchases dropped by 3.0 percentage points compared to the previous quarter.
Author: Armando Ciccarelli, Head of Data Solutions