Wednesday, October 3 2012 14:56
Consumer confidence plummets in Armenia with consumers' outlook becoming increasingly pessimistic
ArmInfo. Consumer confidence index plummeted in Q3 2012 in Armenia from 101.5% to 97.1%. As compared to Q3 2011 the index fell from 106.3% to 95.5%. The Armenian Central Bank press-service told ArmInfo the index fell after certain growth in the previous two quarters.
The current conditions index 4.6% to 95.4% for Q3 2012 versus the same period of 2011, with a 2.8% decline for Q3. The future conditions index also fell 4.3% to 95.7% versus Q3 2011 and 3% to 97% for Q3 2012.
Households' assessment of the current economic situation fell tangibly - 18% to 82% for Q3 (80.3% for the year under review). Revenue subindex fell 4.2% to 95.8% (101.9% for the period under review). Major purchases index fell to 98.9% versus Q3 2011 amd107.6% for Q3 2012.
In the future conditions index all components suffered decline for the period under review, only the major purchases index grew for Q3 2012 to 100.6% (down 98.7% versus Q3 2011). Employment subindex totaled 93.9% for Q3 2012 versus the same period of 2011, and 98.9% for the quarter alone. Revenue subindex fell to 94.5% versus Q3 2011 and to 91.6% for Q3 2012), with pessimistic appraisals.
The Central Bank has been conducting the poll since 2005 to assess the current economic situation and expectation. The method of calculation is based on the US Conference Board and German IFO standards.
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