According to Rosstat, Russian consumer confidence worsened to -6% in 3Q12 (from -4% in 2Q12), with poor readings in almost all components. The age breakdown revealed that the greatest decline was among those aged 50+ and the least among the young (16-29 years old).
On the sub-index level, the index of the expected economic changes in the short term was the key drag, decreasing to -2% during last quarter from +4% in 2Q12 (and the first negative value since 3Q11). At the same time, the index of past economic changes dropped to -2% (from -1% in the previous quarter), the index of expected changes in the level of incomes was down to -3% (from -1%) and the index of past changes to the level of incomes also weakened to -5% (from -4%). The index of favourable timing to make big purchases kept progressing and added to -17% (from - 18%), while the index of favourable conditions to make savings has remained unchanged at -33%.