Russia Consumer Confidence Q4 2016


Russia: Consumer confidence shows mild improvement in Q4

January 18, 2017

The consumer confidence indicator published by the Federal Statistics Service (Rosstat) registered a mild improvement in the final quarter of 2016, edging up to minus 18 points from minus 19 points in Q3. Despite the advance, the index remains firmly entrenched below the 0-threshold, which indicates that pessimists outnumber optimists.

Rosstat commented that the gradual improvement in households’ morale reflects their more optimistic opinions about both the country’s economic prospects and expectations of their own financial situations. According to the survey, the likelihood of consumers purchasing big-ticket items was unchanged relative to the previous period. Negativity among consumers persists about the current state of the economy.

Following two years in contraction, private consumption will rebound this year. FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.3% in 2017, which is unchanged from last month’s projection. For 2018, panelists expect private consumption to increase 2.2%.

Author:, Senior Economist

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Russia Consumer Confidence Chart

Russia Consumer Confidence Q4 2016

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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