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
Author: Ricardo Aceves, Senior Economist