Russia: Consumer confidence picks up in the first quarter
April 9, 2012
The consumer confidence index published by the Federal State Statistics Service (Rosstat) picked up to minus 5.0% in the first quarter, up from the minus 7.0% recorded in the fourth quarter. Despite remaining in negative territory, consumer confidence now sits at its highest level since the third quarter of 2008. Respondents' to the survey showed less pessimistic expectations regarding both the general economy and their personal financial situation. Accordingly, prospects for large purchases increased by 1.0 percentage points compared to the previous quarter.
Author: Armando Ciccarelli, Head of Data Solutions