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Russian Consumer Confidence Falls to Historic Lows

Consumer certainty in Russia fell to 63 points in a initial entertain of this year on Nielsen’s Consumer Confidence Index, a lowest turn given annals began in 2005, a Kommersant journal reported Friday.

In a same duration final year, a index stood during 72 points, a journal reported.

According to Nielsen, a record low series of people now have any additional income after covering simple needs and bills.

At a same time, a share of Russians forced to condense their spending rose to 76 percent in a initial entertain of a year.

Fifty-nine percent of Russian adults now have to refrain from party losses and 61 percent put off a squeeze of new clothes. Fifty-two percent of Russians switched to cheaper food products, according to information from Nielsen.

As Russia continues to knowledge mercantile recession, a genuine salary of Russians shrank 9.5 percent in 2015. This year, a trend continued with 3.9 percent in genuine salary year-on -year in a initial entertain of 2016, according to a Rosstat state statistics service.

“The stability decrease in genuine incomes means that Russians’ consumer activity will sojourn low in a nearby future,” Dilyara Ibragimova, an associate highbrow during a Higher School of Economics’ sociology department, told a newspaper.

Deputy Prime Minister Olga Golodets pronounced Friday that Russia has been strike by a consumer crisis. Fifty-one percent of purchased equipment in Feb were food products while a expenditure of certain forms of light attention has depressed by 20 percent, according to Golodets.

Article source: http://www.themoscowtimes.com/article/567532.html