GfK says Russia’s consumer confidence improves in Jul–Sep

MOSCOW, Oct 19 (PRIME) – Russia’s consumer confidence grew three points on the quarter to 107 points in July–September, market researcher GfK said in a report on Thursday.

“It is great hopes for the future that feed Russia’s consumer confidence growth rather than satisfaction with the current financial condition or with condition of the national economy,” the company said quoting GfK Rus Managing Director Alexander Demidov as saying.

Russian consumer confidence indices vary significantly from region to region. In the Volga and Urals federal districts, the indices grew to 113 points from 101 and to 114 from 113, respectively. But the indices for Siberia and North Caucasus fell to 99 from 102 and to 98 from 103, respectively.

But purchasing power continues to fall, and in September only 46% of Russians were satisfied with their financial condition, while 25% were dissatisfied and 28% were not fully satisfied.

GfK calculates Russia’s consumer confidence index on the basis of at least 2,100 interviews. The level above 100 points shows positive estimates of the current and future conditions of the economy.

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