Russia Consumer Confidence Q3 2017

Russia

Russia: Consumer confidence improves in Q3

October 6, 2017

The consumer confidence indicator published by the Federal Statistics Service (Rosstat) registered a sixth consecutive period of improvement in Q3 2017, rising to minus 11 points from minus 14 points in Q2 2017. Despite the advance, the index remains firmly entrenched below the 0-threshold, which indicates that pessimists outnumber optimists.

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 their ability to make major purchases.

Following two years in contraction, private consumption will rebound this year. FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.2% in 2017, which is up 0.3 percentage points from last month’s projection. For 2018, panelists expect private consumption to increase 2.8%, which is up 0.4 percentage points from the previous month’s forecast.


Author: Angela Bouzanis, Senior Economist

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Russia Consumer Confidence Q3 2017 0

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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