Russia: Consumer confidence improves further in Q2
July 8, 2013
The consumer confidence index published by the Federal State Statistics Service (Rosstat) stepped up to minus 6.0% in the second quarter, up from the minus 7.0% observed in Q1 2013. The reading marks a second consecutive improvement in the index after two consecutive declines. The improvement in Q2 was broad-based, as four out of the five categories that comprise the index fared better compared to the previous quarter. Respondents to the survey showed, in particular, more optimistic expectations regarding the general state of the economy and had a more optimistic assessment of their current personal financial situation. As a result, prospects for large purchases rose over the previous quarter. FocusEconomics Consensus Forecast panellists expect private consumption to grow 4.5%, which is down 0.1 percentage points from last month's projection. Next year, panellists expect private consumption to grow 4.6%.
Author: Armando Ciccarelli, Head of Data Solutions