Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

MNI RUSSIA CONSUMER INDICATOR FALLS TO 94.1 IN FEBRUARY FROM 99.3 IN JANUARY

Consumer Indicator Fall

Sochi Olympics Fails to Lift Consumer Sentiment

The MNI Russia Consumer Indicator declined to the lowest level since the survey started in March 2013, led by a sharp fall in consumers’ views about the current state of their personal finances, with not even the winter games able to boost sentiment.

Consumer Indicator Fall

Consumer Indicator Fall

The Consumer Indicator declined 5.2% on the month to 94.1 in February from 99.3 in January. Asked specifically about the impact of the Olympics, over 70% of respondents said that the games would not be successful in boosting Russia’s economic growth.

Consumers were dissatisfied with both their current conditions and future expectations. The Current Indicator fell by 3.3% on the month to 98.6 from a record high of 102.0 in January. The Expectations Indicator saw a larger decline of 6.5% falling to 91.2 in February from 97.5 in January.

Concerns over inflation worsened as the number of respondents who expected prices to rise in a year’s time increased, taking the Inflation Expectations Indicator to a series high. Consumers’ expectations for interest rates on car and home loans also rose sharply, having remained stable for the previous three months.

Perceptions about both current and future business conditions declined considerably with a rising proportion of respondents blaming poor economic development and social stability.

Commenting on the latest survey, Philip Uglow, Chief Economist at MNI Indicators said, “Last month’s pre-Sochi rise in consumer sentiment was short-lived with confidence falling sharply in February.”

“Concerns over prices intensified this month with the sharp decline in the rouble adding to inflationary pressures. Since the survey was taken, the situation in Ukraine has intensified and Russia has been thrown into economic chaos. It’s difficult to see confidence going anywhere but down next month as well.”

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post