Wednesday, September 18 2013 14:32
Armenian consumers are pessimistic
ArmInfo. In Q2 2013 consumer confidence index in Armenia was lower than in Q1 2013 and Q2 2012 – 43.3 points against 44 points and 47.2 points, respectively.
In the last three years the index grew only in Q2 and Q3 2011 and in Q1 2012.
Current conditions sub-index dropped from 41.7 points to 34.4 points as compared with Q2 2012 and by 0.9 points as compared with Q1 2013, with future conditions sub-index having dropped from 52.8 points to 52.2 points and by 0.4 points, respectively.
Households are pessimistic of the current economic situation - 21.9 points against 23.6 points in Q1 2013 and 30 points in Q2 2012 - and of their future financial status - 48.4 points against 49.7 points and 52 points, respectively.
Employment index dropped from 53 points to 50.4 points.
In Q1 2013 the Central Bank of Armenia renamed economic activity index into business activity index and reviewed methodology for business activity, business climate and consumer confidence indices. Now the indices are given in points rather than percents. Points can range from 0 (very low expectations) to 100 (very high ones). The index is stable when being 45-55 points.
The CB has held the survey since 2005 with a view to evaluate the country's economical situations and expectations. The methodology is based on Conference Board and IFO principles.
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