Russia: Russian consumers less pessimistic in Q2
July 10, 2015
Russian consumers became less pessimistic in the second quarter, according to the consumer confidence index elaborated by the Federal Statistics Service (Rosstat). The indicator climbed from minus 32% in Q1—a multi-year low—to minus 23% in Q2.
Rosstat’s survey showed that consumers’ were notably more optimistic regarding the country’s economic outlook for both the near and long term. As consumers perceive that their personal finances are improving, Q2’s result also showed that households were more optimistic regarding the climate to make major purchases and the climate to save. However, the spread between the two sub-categories remained wide, which suggests that the net saving rate remained high in the second quarter.
Author: Ricardo Aceves, Senior Economist