Consumer confidence in Ukraine, May 2010: Last drop of pessimism among Ukrainians
Results of consumer confidence survey in Ukraine, a joint project between GfK Ukraine and the International Centre for Policy Studies.
May 2010 was the tenth consecutive month that the consumer mood continued to improve uninterruptedly in Ukraine. The Consumer Confidence Index (CCI) moved up another 2.3pp to 97.1. Only 2.9pp are left to the threshold of optimism. Consumer confidence improved largely due to continuing growth in the Index of Economic Expectations (IEE), which rose 4.1pp to 108.9. Meanwhile, assessments of the current situation (ICS) contracted by 0.5pp to 79.3, largely because of a decline in the propensity to consume x5.
A sharp jump of 10.5pp in the Index of Inflationary Expectations (IIE) to 173.6 at the end of Spring 2010 could be in response to rumors that residential service rates will be raised, as well as a chill in the consumer mood after excessive optimism at the start of spring. Expectations of changes to employment trends (IECU) also deteriorated, but by only 2.4pp, to remain at what is a low level for Ukraine, 102.0.
"Optimistic economic expectations were, once again, the main driver of the improvement in the consumer mood among Ukrainians in May 2010,” says ICPS Social Economy Program Manager Maksym Boroda. "Despite slight growth in assessments of personal material standing, most Ukrainian consumers remain reluctant to part with their savings, as was demonstrated by a contraction in their propensity to consume. This could indicate that the wave of optimism tied with the coming of a new Administration has begun to die down and that the CCI will begin to stabilize again.”
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Survey "Consumer Confidence in Ukraine"
