Holidays put consumer mood on hold

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

The end of the New Year holidays seemed to dampen the mood among Ukrainians. In January 2010, the Consumer Confidence Index (CCI) continued to rise, but an almost insignificant 0.8pp to 74.3. This was largely due to a shift in estimations of their own current standing among Ukrainian consumers. The ICS fell 3.5pp to 62.3. This trend was counterbalanced by continuing growth in economic expectations, heated up by campaign promises among politicians running for the President’s office. The Index of Economic Expectations (IEE) rose 3.7pp to 82.3 at the start of 2010.

In January 2010, inflationary expectations and expectations of changes in unemployment took a turn for the worse. The Index of Inflationary Expectations (IIE) rose 3.2pp to 183.7, which could be a reflection of rising prices, especially for food, partly due to seasonal factors and partly due to the election. Expectations of growing joblessness increased considerably as the IECU jumped 6.1pp to 127.8. This was likely an adjustment of perceptions of the labor market, which had been overly optimistic at the end of 2009.

Downloads

Full press release with chart and table

Follow us on twitter

www.twitter.com/gfk_ua