1. Embargoed until 9:45 A.M. Moscow Time, 6 June 2014
Media Release
Russia Consumer Sentiment Hits A New Low
MNI Russia Consumer Indicator Falls to 87.2 in May from 88.5 in April
increasingly negative on the employment outlook
suggesting a weakening in the labour market ahead.
Meanwhile the central bank finds itself in the
unenviable position of having to keep monetary policy
tight while growth flounders.”
“There’s no short-term solution to Russia’s ills, and
while it may have found a friend in China, it needs to
ensure its relations with Europe are not damaged
further.”
The MNI Russia Consumer Indicator fell to a new low
in May amid growing concerns from consumers about
their household finances, spending on big ticket
items and long-term business conditions.
The Consumer Indicator fell to 87.2 in May from 88.5
in April, the lowest level since the series began in
March 2013. This was the fourth consecutive monthly
decline, and left confidence 12.2% below the level
seen at the start of the year amid growing fears that
Russia could fall into recession and the tense situation
in Ukraine.
Against a backdrop of stagnant economic growth,
most of the components of the MNI Consumer
Indicator declined to a series low in May, or very
close to it. Consumers’ views on the current state of
their personal finances led the decrease in sentiment
in May, impacted by high inflation and increased loan
costs. An increasing number of consumers felt they
could not afford to buy items like large white goods or
cars.
The weak economy meant views on current business
conditions were the most pessimistic since the series
began in 2013.
Commenting on the latest survey, Philip Uglow, Chief
Economist of MNI Indicators said, “The collapse in
Russian consumer sentiment continued in May as
consumers faced increased inflation and higher
interest rates. With Russia set to plunge into
recession, our survey shows consumers becoming
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Reproduction or retransmission in whole or in part is prohibited except by permission. All rights reserved.
80
84
88
92
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Mar-13 Jun-13 Sep-13 Dec-13 Mar-14
MNI Russia Consumer Indicator
Sales enquiries: info@mni-indicators.com
For more information:
Naomi Pickens
Media Relations
Deutsche Börse
T+1-212-669-6459
naomi.pickens@deutsche-boerse.com
Editorial content:
Philip Uglow,
Chief Economist
MNI Indicators

2. Media Release 2
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Reproduction or retransmission in whole or in part is prohibited except by permission. All rights reserved.
About MNI Indicators
MNI Indicators is a product line that specialises in monthly business and consumer focused macro-economic reports that explore attitudes, perspectives
and confidence across different regions designed to present an advance picture of the economic landscape and highlighting changing patterns and
potential developments in business and consumer activities. For more information please visit www.mni-indicators.com.
About MNI
MNI is the leading provider of news and intelligence, a wholly owned subsidiary of Deutsche Börse AG, one of the largest worldwide exchange
organisations.
Notes to Editors
Please source all information to MNI Indicators.
The MNI Russia Consumer Sentiment Survey is a wide ranging monthly survey of consumer confidence across Russia.
Data is collected through computer aided telephone interviews (CATI), with each interviewee selected randomly by computer. At least 1,000 interviews
are conducted each month from cities across the whole country.
The survey adopts a similar methodology to the University of Michigan survey of U.S. consumer sentiment.
The MNI Russia Consumer Indicator is derived from five questions, two on current conditions and three on future expectations:
1) Current personal financial situation compared to a year ago
2) Current willingness to buy major household items
3) Personal financial situation one year from now
4) Overall business conditions one year from now
5) Overall business conditions for the next 5 years
Indicators relating to specific questions in the report are diffusion indices with 100 representing a neutral level, meaning positive and negative answers
are equal. Values above 100 indicate increasing positivity while values below show increasing negativity.