Page 24 - RusRPTFeb21

2.9 ​Russian business and consumer confidence https://rosstat.gov.ru/central-news?page=​1
Consumer confidence index drops q/q, y/y in 4Q20
Rosstat has published its quarterly consumer confidence index (CCI), which showed a q/q and y/y deterioration. The index fell to -26% in 4Q20 vs. -22% in 3Q20, whereas the level a year ago was -13%.
Rosstat’s business confidence index is doing much better, ending 2020 at -7.3% in November, the last data available, which is on a par with previous years.
Russia’s business confidence is very seasonal rising to around 2% in the summer months before falling to 8%-9% in the winter. However, in 2020 business confidence was clearly more depressed than usual in the summer, falling to around -9% in May before recovering as the lockdown restrictions were removed in the last summer. As winter approached business confidence has more or less returned to the regular seasonal pattern and -7.3% is on a par with November in 2019 and 2018.
Russian consumer confidence has been hit much harder and the depression is
24 ​RUSSIA Country Report​ February 2021 ​ ​www.intellinews.com