Russia: Consumer confidence rises in Q1
April 5, 2018
The consumer confidence indicator published by the Federal Statistics Service (Rosstat) improved in Q1 2018, rising to the highest reading since Q3 2014. The consumer confidence indicator rose from Q4 2017’s minus 11 points to minus 8 points. Despite the rise, the index remains firmly entrenched below the 0-threshold, which indicates that pessimists outnumber optimists.
According to the survey, the improvement was broad-based across the components of the index. Households were more optimistic about the future economic situation in Russia and assessed the current situation less negatively than in the previous quarter. In addition, households’ assessments of their current and future personal financial situation improved in Q1.
Russia Private Consumption Forecast
FocusEconomics Consensus Forecast panelists expect private consumption to expand 3.0% in 2018, which is unchanged from last month’s projection. For 2019, panelists expect private consumption to increase 2.6%.