By the end of 2023, consumer sentiment had slightly deteriorated. Hopes for the future remain at a high level, but indicators of the current situation – financial condition and readiness for large purchases – turned out to be lower than in October. Concern about consumer prices has grown: Russians are more likely to note their high growth rates and expect further increases. Satisfaction with the general standard of living has also decreased.
economy
Russians’ perceptions of changes in various spheres in the outgoing year 2023
In 2023, according to Russians, the situation in most areas has not changed significantly. Separately, we can only highlight the deterioration of relations with Western countries, the NATO bloc – it is noted by almost three quarters of respondents.
Consumer sentiment in October 2023
Consumer sentiment improved slightly in October 2023. The increase in confidence is noticeable in all socio-demographic groups, however, this did not affect the willingness to make large purchases.
Savings behavior in September 2023
The savings behavior and attitudes of Russians have hardly changed in recent months. In the context of increased inflationary pressure, the number of Russians who consider the current time favorable for making savings has decreased somewhat. This could also provoke a decrease in interest in ruble assets. At the same time, these factors have a limited impact.
Public perception of Western sanctions: June 2023
Concern about Western sanctions remains at a low level. As before, people of low income and older ages who feel the vulnerability of their economic situation are more concerned about sanctions. Among the consequences of sanctions restrictions, respondents are most concerned about the freezing of Russian assets abroad, the cancellation of cultural events with the participation of Russian artists and the departure of a number of Western companies from the Russian Federation. The majority of respondents note that the sanctions have not created problems for them and their families, and also believe that Russia should continue its policy despite the sanctions.
Western sanctions
More than half of Russians are not concerned about Western sanctions. At the same time, by August, this concern had grown slightly. Middle-income respondents and residents of large cities are most concerned about sanctions. At the same time the prevailing opinion is that sanctions will benefit the country and become an incentive for development.
Sanctions
In May, Russians’ concern about Western sanctions against Russia decreased. The first shock of the sanctions has passed. Among the various restrictions, respondents are most concerned about the freezing of Russian assets abroad, although young people are more concerned about restrictions on Visa and Mastercard and the departure of Western brands. Respondents consider the price increase to be the main consequence of sanctions. At the same time, three-quarters of respondents believe that Russia should continue its policy despite the sanctions.
Survey of retail investors in March 2022: sentiment on the eve of the opening of the stock market
The conducted survey of retail investor sentiment shows a sharp decline of optimism about the future and their own financial situation. Confidence that their personal financial situation will improve has been decreasing throughout the year, but the current drop was especially dramatic: the number of those who expect their finances to improve this year has dropped from 44% in October 2021 to 13% in March 2022.
Politics and economy: estimates and prospects
About half of Russians consider the political climate in Russia to be tense, 41% view the economic situation as bad. A third of respondents believe that their quality of live has deteriorated over the last year. 25% and 22% of respondents, respectively, think that things will go better for their family and for Russia as a whole, 19% and 33% expect things to go worse. Most of the respondents expect both the political life and the economy in Russia to deteriorate in the coming months.
Consumer loans and preferred ways of preserving savings
The share of those who consider the current time to be good for large purchases has increased. More than a third of Russians (35%) or their family members have outstanding consumer or mortgage loans. Representatives of the younger generation and residents of small towns take out loans somewhat more often. More than 60% of borrowers have problems with repayment of loans.