Ukraine

Business

Journal

13:40 PM Wednesday, November 14, 2018
Finance
Consumer Confidence Recovering in Ukraine
Confidence in the Ukrainian economy is returning, after a decrease in optimism throughout the winter.
image/svg+xml Kyiv Lutsk Rivne Zhytomyr Lviv Ternopil Khmelnytskyi Uzhgorod Chernivtsi Vinnytsia Chernigiv Sumy Kharkiv Poltava Cherkasy Kirovohrad Lugansk Dnipropetrovsk Donetsk Zaporizhzhia Mykolaiv Odesa Kherson Simferopol Sevastopol Ivano- Frankivsk

By Vitalii Dubenskyi

Kyiv – The Consumer Confidence Index (CCI) here in Ukraine has improved after its decrease in January and February 2018, according to data from “The Consumer Confidence Survey” conducted by GfK Ukraine. The CCI reached 57.7 in March, 2.3 points higher than it was in February 2018.

The survey showed that the component of CCI that rose the most was Propensity to Consume, which gained 6.8 points compared to February, while Expected Changes in Personal Financial Standing was up by 4.3 points.

"These numbers are associated with more optimistic expectations, regarding changes in personal financial standing, the decrease of devaluation, and inflationary expectations," said an analyst for GfK Ukraine, commenting on the study.

The most positive dynamics of The Index of Propensity to Consume and The Index of Expected Changes in Personal Financial Standing have been recorded in the larger Ukrainian cities with over 500 thousand residents.

Dynamics of the Consumer Confidence Index in Ukraine

Month, year

Consumer Confidence Index (CCI)

Index of the Current Situation (ICS)

Index of Economic Expectations (IEE)

Index of Expectations of Changes in Unemployment (IECU)

Index of Inflationary Expectations (IIE)

Index of Devaluation Expectations (IDE)

03’18

57.7

56.6

58.4

134.3

183.0

149.9

02’18

55.4

53.6

56.6

134.7

187.2

159.7

03’17

55.4

53.3

56.9

142.6

182.3

143.6


The index that has changed the most (decreasing by 9.9 points) was the Index of Devaluation Expectations. Ukrainians have started to be optimistic about the stability of the national currency.

In March, Ukrainians were also optimistic about inflationary processes: the Index of Inflationary Expectations fell by 4.2, to 183.

The consumer confidence survey has been conducted in Ukraine since June 2000, from January 2009 it is conducted on a monthly basis. The Consumer Confidence Index is determined through a random survey of domestic households. The poll involves 1,000 individuals aged 16+. The margin of error is 3.2%.


Posted May 7, 2018.


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