Russian consumption mood deteriorates sharply

Russian population is oppressed with economic situation in the country. It is strongly pronounced in reports published by the biggest official analytical centers: Federal Statistic Office and Central Bank.

Central Bank of Russia published report of Inflation expectations and consumer sentiment in Russia in December 2014 upon the survey of 2’000 people in 43 Russian regions. Estimations of expecting yearly inflation grew by 2.3 points and counted 15.5%. 48% of people consider the situation unfavourable for purchasing in credit. The consumer sentiment index fell to the the lowest values during 5-year period – 90 points, but, more people began to think about large purchases. Source: Central Bank of Russia [1]

According to Federal Statistic Office of Russia (Rosstat) Consumer confidence index (estimation on total consumer expectations) in Q4 2014 counted -18% (-11% against Q3 2014). The reason of fall is public opinion about changes in Russian economy. The index of business climate for major purchases is -24% (-8% against Q3 2014). Source: Federal Statistic Office [2]