Consumer confidence in Russia improved in Q2 2010

2010-07-23

The Consumer Confidence Index (CCI) in Russia improved by 3 p.p. in Q2 2010 in comparison with the previous quarter and ended the period at -7%, according to research conducted by the Russian Federal Statistics Service (Rosstat). The indicator has been improving constantly since Q2 2009, at which point it had fallen to -18%.
All components of the CCI improved in the quarter in question, with the largest improvement observed in the category of expected changes to consumers’ personal financial situation and expected changes for the Russian economy in general. The former reached a positive value of 0.3% in Q2, which was 4 p.p. more than in Q1 2010. The share of respondents expecting their personal financial situation to improve during the next 12 months was 15% (against 14% in Q1 2010), while 13% expected their situation to deteriorate and with 59% expecting no change in comparison with Q1 2010.
The improvement in consumer outlook was accompanied by an improvement in the Big Ticket Purchases Index, which rose 5 p.p. quarter on quarter to -25% in Q2 2010.
The Consumer Confidence Index (the CCI) is based on the subjective responses to several questions asked in a survey conducted by Rosstat. It is carried out quarterly on a sample of more than 5,000 Russians aged 16 or above.