Russia: Consumer confidence picks up in the second quarter
July 6, 2011
The consumer confidence index, published by the Federal State Statistics Service (Rosstat), improved from minus 13.0% in the first quarter to minus 9.0% in the second quarter, marking a 4.0 percentage point improvement compared to the previous reading and drove consumer sentiment to the highest level since the second quarter of last year. The improvement in the index was broad-based, with all the main sub-categories performing better than observed in the previous quarter. In particular, as respondents to the survey believe that their personal financial situation will improve going forward, prospects for large purchases rose by 5.0 percentage points compared to the previous month.
Author: Armando Ciccarelli, Head of Data Solutions