Ukraine sees consumer confidence index rising for fifth straight quarter

Source : 112 Ukraine

The percentage of consumers who think that Ukraine will not recover from crisis within the next 12 months, dropped to 66% from 74%
17:28, 11 April 2018

Open source

The consumer confidence index in Ukraine has been on the increase for five quarters in a row: as the result of the final quarter of 2017 it reached 61 points, which exceeded the previous quarter’s level, and exceeded the level exhibited in the last quarter of 2016, the quarterly report published by Nielsen reads, Interfax-Ukraine reports. 

Related: Consumer inflation in Ukraine speeds up to 16.2 percent in YOY, - National Bank

“Consumers have become more decisive in their spending patterns. At the same time, we are noticing how much more demanding they have become in their preferences towards goods, services and brands”, - the message reads, citing the CEO of the Nielsen branch in Ukraine and Belarus Vaios Dimoragas.

According to him, operating with a restrained budget, consumers want to experience pleasant emotions from the purchases they make, the Internet offers them a great opportunity to make the right choice.

The index is calculated based on three components: how consumers evaluate labor market prospects within the next twelve months, the level of financial well-being within the next twelve months, and their readiness to spend money at the moment.

Related: Ukraine’s retail trade increases by 8.8% in 2017

The increase in the consumer confidence index in the final quarter of 2017 against the previous quarter could be explained by improved figures across all three indicators.

According to the document, the absolute majority of Ukrainians continue to believe the country is in crisis, while the quantity of such respondents increased slightly – from 92% in the third quarter of 2017 to 93%.

The percentage of consumers who think that Ukraine will not recover from crisis within the next 12 months, dropped to 66% from 74% exhibited a year earlier.

An index greater than 100 points to a majority of optimists in the country, one lower than 100 – to a majority of pessimists, whereas an index of 100 means a parity between positive and negative expectations of the future.

Nielsen is included in the Standard & Poor’s 500 list, conducting research in over 100 countries of the world. The corporation has been operating in Ukraine since 1995, and currently employs some 500 workers in the nation.

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