Consumer sentiment index in the positive zone all over Russia - Information portal

Consumer sentiment index in the positive zone all over Russia

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22.12.2017 Количество просмотров 416 views
CWbZUslUAAE3NYQ.jpgQ4 2017 CSI in Russia stands at 103 points, GfK’s All-Russia survey says.
 
Although the Index is down by 4 points from Q3, consumer sentiment has been in the positive zone for the fourth quarter running and is positive for the first time since the crisis for every Russian region. Q4 saw consumer sentiment in Siberia and the North Caucasus move out of the negative zone where it was in Q3.

The CSI is a combination of the Current State Index (consumers’ assessment of their financial situation and the state of the national economy) and the Expectations Index (consumers’ forecast of the similar indicators in the future). In Q4 2017 the Current State Index entered the positive zone for the first time since 2014.

«We can say that, despite all trials and tribulations at this juncture, the Consumer Sentiment Index is back to its pre-crisis levels in all indicators», said Alexander Demidov, CEO of GfK Rus.

What people make of 2017 and what they look forward to in 2018 

GfK researchers have asked the Russians to rate the outgoing year with regard to both themselves and the country at large and to give their forecasts for the next year. 53% of the respondents (up from 45% in 2016) have said that 2017 was «a good year or more likely a good one than bad» for them and their families while 13% have said it was «more likely a bad year than good» (down by 3 pp. from 16% in 2016).

These figures show that Russia is optimistic about its future. According to GfK, 81% of the Russians expect that 2018 will be «a good year or more likely a good one» for them and their families. This is the highest score registered over the entire period covered by consumer expectations surveys. For comparison’s sake, in a relatively untroubled span of economic growth in 2006-2007 there were as few as 78-79% of those who were confident about the future. 

Additionally, a breakthrough has been registered in terms of how consumers rate the  year and the prospects of their country: 41% believe the outgoing year was «a good year or more likely a good one than bad» for Russia compared to only 28% who thought that 2016 was a positive year.

To conclude, 75% believe that 2018 is likely to be «a good year or more likely a good one» for Russia, which is about the same percentage of the respondents (74%) who rated Russia’s prospects similarly back in 2006.

Source:  Gfk


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