4 Oct 2019 17:27

Russian consumer confidence continues to improve in Q3 - Rosstat

MOSCOW. Oct 4 (Interfax) - Russian consumer confidence improved for the third straight quarter in Q3 2019, the Federal State Statistics Service (Rosstat) said.

The Consumer Confidence Index (CCI) rose 2 percentage points to negative (-) 13% in Q3 2019 from -15% in Q2 and -16% in Q1. The CCI fell from -8% in Q2 1018 to -14% in Q3 2018 and -17% in Q4 2018.

The index of expectations of changes in the economic situation in Russia over the next 12 months rose 1 pp to -9% in Q3 2019 from -9% in Q2 2019. It indicates that 16% of those surveyed expected changes for the better in the economy over the next 12 months, compared with 15% in Q2 2019, and 28% expected changes for the worse, compared with 29%, while 54% expected no change, up from 52%.

The index of past changes in the economy grew 3 pp to -16% from -19%, indicating that 12% of the population thought the economic situation had changed for the better in the period, unchanged from Q2, and 39% thought it had changed for the worse, down from 42%, while 49% gave a neutral assessment, up from 46%.

The index of anticipated changes in the personal financial situation rose 1 pp to -5%, indicating that 18% thought their personal situation would worsen in the next 12 months, up from 19%, while 68% gave a neutral answer, up from 67%.

The index of past changes in the personal situation rose 2 pp to -10% from -12%.

Rosstat has conducted quarterly consumer sentiment surveys since 1998. More than 5,000 people aged 16 or over from private households in all constituent members of the Russian Federation have taken part in the surveys.

The surveys ask for a respondent's subjective opinion on the economic situation in the country as a whole and personal financial situation, and the situation in the markets for goods and services and savings.

A broad or composite consumer sentiment index and individual or sub-indices are calculated. The composite index is the arithmetical average of five sub-indices: past and expected changes in financial situation, past and expected changes in the economic situation as a whole, and favorable conditions for major purchases.