23%

of Russians expect the country’s economy to experience positive changes in the coming 12 months. At the same time, only 12% of respondents expect their own financial condition to improve.

This information is presented in a new research report by the Centre for Business Tendency Studies at the HSE Institute for Statistical Studies and Economics of Knowledge (ISSEK). The report, ‘Economic Sentiment Index in Q2 2014’, is based on a survey of 5,000 Russians above age 16 (surveys are conducted quarterly by the Russian Federal State Statistics Service (Rosstat)).

The Consumer Confidence Index (part of the Economic Sentiment Index) increased in the second quarter by 5 percentage points, but still remained negative, reaching the level of -6%. This is one of the best indicators seen in the post-crisis period. However, although the economic mood of the public has improved, this does not give grounds for optimism given that a positive trend is characteristic for the second quarter in virtually every year.