Consumer Confidence in Ukraine, April 2010:
Ukrainians inching towards optimism
Results of consumer confidence survey in Ukraine, a joint project between GfK Ukraine and the International Centre for Policy Studies.
The Consumer Confidence Index rose 5.5pp in April 2010 to reach 94.8, drawing closer to the optimistic threshold in Ukraine. Optimistic Ukrainian consumers need to gain only a few more points to find themselves in the majority. This growth was largely driven by improved assessments of the current situation, which pushed the ICS up 12.9pp to 79.8. Meanwhile, economic expectations did not change significantly among Ukrainian consumers, maintaining a cautiously optimistic 104.9.
The second month of Spring 2010 saw improvements in expectations of inflation and trends in unemployment continue. The Index of Inflationary Expectations dropped a further 9.1pp to a new low of 163.1 for the entire period of consumer surveys in Ukraine. Historically, these surveys have demonstrated a strong link between consumer expectations of inflation and their estimations of the current material standing. Expectations of changes in unemployment fell 6.8pp to 99.6, bringing the IECU the closest to the threshold of optimism that it has been in the last five years.
"The improvement in the mood among Ukrainian consumers in April 2010 showed a fundamental shift from the previous few months,” says Maksym Boroda, Head of Socio-Economic Program at ICPS. "The main driver of growing improvement then was economic expectations, whereas now it is estimations of current standing. In other words, before, Ukrainians were only hoping for positive changes, whereas now they are finally starting to feel them.”
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Survey "Consumer Confidence in Ukraine"
