Russia's consumer confidence index grew by eight percentage points in the second quarter of 2015, Sberbank Investment Research said in a release on Thursday.
Much of the growth in the index was a result of a growth in optimism regarding personal well-being in the next 12 months compared to previous periods. In the index, respondents also recorded an optimistic outlook about national well-being for the first time since the index began tracking responses in 2013. The index is aimed at tracking the well-being of middle-income consumers, colloquially called "the Ivanovs," a common Russian surname.
"The optimism is explained by the fact that the Ivanovs' most gloomy expectations did not materialize, while diminished concerns about the exchange rate and inflation contributed to an improved perception of the current economic environment," the release said.
"We believe this is mostly due to eased fears of inflation, ruble depreciation and a less downbeat perception of the current state of the economy (9% fewer respondents believe that the Russian economy is unstable)," the release added.
Positive trends included a considerable 10 percent rise in people prepared to make large purchases while 8 percent increased spending across the board. Respondents also increased the number of chains they shop at, indicating bargain-hunting, while the proportion saying that they are trying to save on staple goods decreased, which could indicate increased competition among chains.
