New Year ushers in optimism

Results of consumer confidence survey in Ukraine, a joint project between GfK Ukraine and the International Centre for Policy Studies

Ukrainians greeted 2010 with a major increase in optimism. According to the survey run in December 2009, the Consumer Confidence Index (CCI) grew 7.9pp to 73.5. This is 19.6pp higher than the CCI stood in December 2008. These are the results of consumer confidence survey in Ukraine, a joint project between GfK Ukraine and the International Centre for Policy Studies. This noticeable improvement in the consumer mood at the end of 2009 could be a reflection of seasonal factors with the onset of holiday fever and anticipation of the presidential election, or it could be the result of a real improvement in the confidence of Ukrainian consumers in their jobs and in their futures. In affirmation of the latter assessment, expectations of changes in unemployment saw a major improvement, falling 17.8pp to 121.7.

Among the components of the Index, the highest rise, 9.6pp to 65.8, was in assessments of the current situation (ICS). Economic expectations (IEE) improved only slightly less, rising 6.8pp to 78.7. Even inflationary expectations improved among Ukrainian consumers in the last month of 2009, falling 2.0 to 180.5.

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