Russia Consumer Confidence


Russia: Consumer confidence wanes somewhat in Q3

October 9, 2015

Rising pessimism among Russian consumers returned in Q3, mainly due to a more negative assessment regarding country’s economic outlook. According to the Federal Statistics Service (Rosstat), the consumer confidence index inched down from minus 23 points in Q2 to minus 24 points in Q3.

Looking at the sub-indicators, consumers were slightly more optimistic about the current national economic situation. That said, households were notably more pessimistic regarding Russia’s economic prospects in the next 12 months. The survey in Q3 also showed that consumers were more pessimistic regarding their own financial prospects in the next 12 months, while they were slightly more optimistic about their current financial situation than in the previous quarter. Moreover, a slight majority of consumers were more optimistic regarding the climate to make major purchases

FocusEconomics Consensus Forecast panelists expect private consumption to contract 7.4% in 2015, which is down 0.7 percentage points from last month’s projection. For 2016, panelists expect private consumption to expand 0.2%.

Author:, Senior Economist

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Russia Consumer Confidence Chart

Russia Consumer Confidence Q3 2015

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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