Russian consumer sentiment increased in November, with households less pessimistic about business conditions over the coming year as well as their current financial situation.
The MNI Russia Consumer Sentiment Indicator rose 1.9% on the month to 70.8 in November from 69.5 in October. Four of the five components of the indicator improved between October and November, led by heightened expectations for the business environment over the coming year.
Respondents were also less pessimistic in their assessment of their financial position both now and in the future. They were also somewhat more willing to purchase a large household good, although the Durable Buying Conditions Indicator, like all other components, remains well below the 100 neutral level.
Confidence was also supported by the real estate market as heightened expectations for house prices over the coming year prompted fewer consumers to consider it to be a good time to sell a property while also lifting the number of those who wanted to invest in one.
In spite of the slightly less pessimistic tone, a record number of respondents reported that they were struggling to keep up with the ever-growing cost of living and their inflationary expectations for the coming year remained elevated.
Consumers also continued to be pessimistic about the prospects for the job market, albeit less so than last month when their outlook was gloomier than ever before.
Commenting on the latest survey, Philip Uglow, Chief Economist of MNI Indicators said, “While consumer sentiment has improved in November, it is still close to record lows and demonstrates just how much pain consumers have endured over the past two years.”
“Still, the recent stabilisation in confidence seen over the past three months suggests that we could be through the worst.”
FTSE Mondo Visione Exchanges Index:
.jpg)
MNI Russia Consumer Sentiment Indicator: Russia Consumer Sentiment Improves In November - Lifted By Less Downbeat Outlook For Business Conditions
Date 08/12/2015
