Russia: Consumer confidence inches up in first quarter
April 9, 2013
The consumer confidence index published by the Federal State Statistics Service (Rosstat) stepped up to minus 7.0% in the first quarter, up from the minus 8.0% observed in Q4 2012. The reading marked the first improvement after two consecutive declines.
The improvement was broad-based, as all the categories of the index fared better compared to the previous quarter. Respondents to the survey showed, in particular, more optimistic expectations regarding both the general economy and their personal financial situation. Nevertheless, prospects for large purchases dropped by 1.0 percentage points compared to Q4 2012.
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