Consumer confidence of Ukrainians worsens for second month in row – study
Consumer confidence of Ukrainians in November 2019 continued worsening and decreased by 4.2 points compared with October, reaching 91.7 (the values of indices can vary from 0 to 200), while a year ago the figure was 59.8, according to a study of Info Sapiens posted on its website.
"The Consumer Confidence Index decreases second month in a row after its record in September. Such decrease in November takes place due to the correction of economic expectations in 1-year and 5-years perspective," Info Sapiens analysts said.
According to the study, indices related to the personal well-being and propensity to consume did not experience any significant changes this month. At the same time, the Inflationary Expectations grew and reached the level of March 2019.
Expectations of Ukrainians regarding the hryvna's exchange rate in the coming three months slightly improved: Index of Devaluation Expectations decreased by 3.4 points and reached the level of 125.9. In November, the indicator of Index of Expectations of Changes in Unemployment equaled 125.4, which is 13.7 p. higher than previous month. Index of Inflationary Expectations increased and equals 185.7, which is 6.6 points higher than last month.
Index of the Current Situation (ICS) decreased by 0.9 points to the level of 87.2. The components of this index have changed as follows: Index of Current Personal Financial Standing equaled 82.6, which is 0.1 points higher than the indicator in October; and Index of Propensity to Consume decreased by 1.9 p. and reached the indicator of 91.8.
In November, Index of Economic Expectations (ІЕE) decreased by 6.3 points to the level of 94.8. The components of this index have changed as follows: Index of Expected Changes in Personal Financial Standing decreased by 1.9 points comparing to the previous month and equals 90.9; Index of Expectations of the Country's Economic Development Over the Next Year decreased by 11.5 points and equals 93.6; and Index of Expectations of the Country's Economic Development over the Next 5 Years decreased and reached 99.8, which is 5.5 points lower than in October.
The Consumer Confidence in Ukraine survey was conducted by GfK Ukraine since June 2000. From 2019 this project is provided by Info Sapiens with support of Dragon Capital. The poll involves 1,000 respondents.