Russian Federation - Consumer Confidence





Russian Federation: Consumer Confidence

Mnemonic CIC.IRUS
Unit Balance of Opinion, NSA
Adjustments Not Seasonally Adjusted
Quarterly 6.25 %
Data 2019 Q2 -15
2019 Q1 -16

Series Information

Source Federal State Statistics Service (Rosstat)
Release Consumer Confidence Index
Frequency Quarterly
Start Date 12/31/1998
End Date 6/30/2019

Russian Federation: Consumer

Reference Last Previous Units Frequency
Real Retail Sales Jul 2019 271.63 265.52 Jan. 2001 = 100, NSA Monthly
Retail Sales Jul 2019 2,792 2,731 Bil. RUR, NSA Monthly
Consumer Confidence 2019 Q2 -15 -16 Balance of Opinion, NSA Quarterly
Personal Income 2019 Q2 34,424 30,068 RUB, NSA Quarterly

Release Information

A survey of consumer expectations is organized selectively and conducted by state statistics institutions in accordance with the Federal Programme of statistical work. Theoretical background of this survey is based on the provision that the consumer solutions of the population affect the economic outlook. Evaluation of individuals personal financial situation and the general economic environment largely determines its consumer intentions. Taken together, these intentions have a serious impact on the economy and are fairly accurate indicators of future changes in consumer spending and savings.

Regular surveys of consumer behavior of the population in Russia are carried out by Rosstat since 1998. The periodicity is quarterly (February, May, August and November), covering 5000 respondents. The sample consists of people aged 16 and older, living in private households and covering all regions of Russia.

Survey questionnaire includes questions about the respondent's subjective opinion about the general economic situation and their personal financial situation, the situation in the market of goods (services) and savings. The responses are divided into the following options:

  • Clearly positive or clearly negative (very good, very favorable / very bad, very unfavorable);
  • More positive or more negative (good rather favorable / bad rather unfavorable);
  • Neutral (mean, "pros" and "cons" are equally).

According to the methodology of the European Commission, these are calculated values ​​of the partial indexes and generalizing index of consumer confidence of the population. Partial indices are calculated on the basis of information about the respondents balance changes (in percent) on the matter of the questionnaire. Balance assessment represents the difference between the amount of shares (in percentage) being definitely positive and 1/2 more positive responses and the amount of shares (in percentage) which are definetly negative and 1/2 most probably negative responses. Neutral answers are not taken into account.

Synthesis (composite) index or the index of consumer confidence is calculated as the arithmetic mean of the five partial indices: past and expected changes in personal financial situation (1-2), past and expected changes in the economic situation in Russia (3-4), ease of large shopping (5).

The resulting survey of consumer expectations of information can be used, along with quantitative statistical data, to analyze the behavioral patterns of the population in the consumer market, as well as in assessing the impact of consumer demand on the state of the economy as a whole.

Data is not subject to revisions.

For more information, please visit: http://www.gks.ru/free_doc/new_site/population/urov/murov8.htm