The consumer confidence of Ukrainians in April 2020 worsened by 6.8 points, to 66.2 points on a 200-point scale, and their assessment of their current situation by 18.4 points, to the level of 2017, or to 48.8, according to data from Info Sapiens research agency.
“The Consumer Confidence Index (CCI) lost 7 more points during the second month of the quarantine. Such loss is not big comparing with negative dynamics of the CCI in March-April in European countries. Namely, in Poland and Hungary the index decreased by 37 points, in Germany by 26 points, in Spain by 13 points, and Italy by 13 points,” according to a report on the agency’s website.
“The Index of Current Personal Financial Standing equaled 52.3, which is 7.8 points lower than the indicator in March, while the Index of Propensity to Consume decreased by 29 points and reached the indicator of 45.3,” the report says.
“The propensity of Ukrainians to believe in the short-term nature of the crisis (in the perspective of one year) and optimistic expectations about economic development in the next 5 years keeps consumer confidence from rapid decline. At the same time, the most sensitive to the current crisis was the Index of Propensity to Consume: the April value of this index is the lowest for the period June 2014-April 2020. Approximately the same level of this Index was observed in July-August 2015. The decrease of propensity to consume indicates a strong sense of uncertainty among consumers and a strategy of cautious consumer behavior,” Info Sapiens analysts comment.
“In April, the Index of Economic Expectations increased insignificantly by 0.9 points to the level of 77.8. The indicator of the Index of Expectations of Changes in Unemployment equaled 168.9, which is 35.5 points higher than in the previous month. The Index of Inflationary Expectations decreased to the level of 172.7, which is 12.7 points lower than last month. Expectations of Ukrainians regarding the hryvnia’s exchange rate in the coming three months have improved: the Index of Devaluation Expectations decreased by 7.2 points and reached the level of 146.8,” according to the document.
