The material situation of Russians worsened: a bright future is not expected

photo: Natalia Muslinkina

In 2018, every third Russian has felt the worsening of its financial situation, and for the last quarter of last year, the reduction in income affected 48.5 million people in the country. This was 3 million more than three months earlier.

In the happy end of this year, our compatriots also do not believe. In the fall of their income confident 26% of HSE respondents, whereas by the end of October 2018, the number of pessimists was 5% less. Given that the population of Russia is approximately 146,88 million people, the number of confident in the future declined by more than 7.5 million inhabitants, and those who believe in negative developments has increased from 30.8 million to 38 million Russians.

Most of the pessimism has diminished in two age groups of respondents — those who have already turned 30 years old and those older than 50 years. Positive signals, according to the HSE, was received from young people who are under 30 years. However, this category also often find it difficult to answer: about 10% of respondents, not traded “thirty”, still preparing for difficult times.

According to the Director of the Center for market research HSE George Ostapkovich, about a quarter of the Russians at the end of 2018 was not satisfied with their own financial situation, and more than a third of the population stated further deterioration. “The income of most families has provided only a basic level of consumption, not allowing you to make major purchases and delay. Finally, more than 90% (and youth, and the Mature population) Russians are preparing to increase prices”, — said the expert.

As explained by an analyst FxPro Alexander kuptsikevich, a reversal in consumer confidence index to decline in the second half of 2018. Previously recorded a growth of optimism for two years. “This coincidence is due not only to raise VAT and retirement age, but with the growth rates of Bank lending. Lending has been a powerful driver of acceleration of the economy in previous years. As soon as this tendency is gradually disappearing, deteriorating consumer sentiment. Most likely, the credit conditions in the coming quarters will be tightened. This may mean a further decline in consumer confidence. In the growth of wages does not count, because this figure is a few years behind inflation. We expect several quarters of falling consumer confidence. Interest rates on loans will continue to rise and the next quarterly assessment would show more dramatic fall,” — said the expert.

Leave a comment

Your email address will not be published. Required fields are marked *