Consumer sentiment among Ukrainians has improved significantly after a long period of pessimism
Date: 2024-09-12 Author: Alexei Fomin Categories: COMMUNITY
The current situation index has increased and is 58.1 points, which is 4.3 points higher than the level of this indicator in July. The economic expectations index increased by 13.7 points and is 94.6 points.
In August, the expected unemployment dynamics index decreased by 6.3 points and is 118.8 points. The inflation expectations index decreased by 4.8 points and is 183.1 points. The devaluation expectations index decreased by 7.3 points and is 162.5 points.
"The cautious recovery trend that we observed in July 2024 turned into a steady increase in the consumer sentiment index in August. Inflation and devaluation expectations are also improving. At the same time, this cannot yet be considered indicators of economic recovery, given the long and unpredictable course of the war. Rather, we are seeing a recovery in consumer sentiment and economic expectations after a significant increase in negative sentiment that occurred in late spring - early summer," Info Sapiens analysts comment.
Consumer sentiment index in Ukraine is determined on the basis of a sample survey of households in the country. During the study, 1,000 people aged 16 and over are interviewed.
The index values can vary from 0 to 200. The value is 200 if all citizens positively assess the economic situation. The index is 100 when the shares of positive and negative assessments are equal. An index value of less than 100 means that negative assessments prevail in society.
As a reminder, the National Bank of Ukraine recorded an improvement in business sentiment in August. The Business Activity Expectations Index (BIE) rose to 48.4 points compared to 44.4 in July.
According to a survey by the Rating Group, in July, 83% of respondents believed that the economic situation in the country had worsened over the past year, 10% - that it had not changed, and another 2% saw an improvement. The financial situation of the family has worsened to one degree or another in 60%, has not changed in 35%, and has improved in 4%.
In August, the expected unemployment dynamics index decreased by 6.3 points and is 118.8 points. The inflation expectations index decreased by 4.8 points and is 183.1 points. The devaluation expectations index decreased by 7.3 points and is 162.5 points.
"The cautious recovery trend that we observed in July 2024 turned into a steady increase in the consumer sentiment index in August. Inflation and devaluation expectations are also improving. At the same time, this cannot yet be considered indicators of economic recovery, given the long and unpredictable course of the war. Rather, we are seeing a recovery in consumer sentiment and economic expectations after a significant increase in negative sentiment that occurred in late spring - early summer," Info Sapiens analysts comment.
Consumer sentiment index
The index values can vary from 0 to 200. The value is 200 if all citizens positively assess the economic situation. The index is 100 when the shares of positive and negative assessments are equal. An index value of less than 100 means that negative assessments prevail in society.
As a reminder, the National Bank of Ukraine recorded an improvement in business sentiment in August. The Business Activity Expectations Index (BIE) rose to 48.4 points compared to 44.4 in July.
According to a survey by the Rating Group, in July, 83% of respondents believed that the economic situation in the country had worsened over the past year, 10% - that it had not changed, and another 2% saw an improvement. The financial situation of the family has worsened to one degree or another in 60%, has not changed in 35%, and has improved in 4%.
