Armenia’s consumer confidence index drops to 40.8 in Q1

Armenia’s consumer confidence index drops to 40.8 in Q1

YEREVAN, May 14. /ARKA/. Armenia’s consumer confidence index was 40.8 only in the first quarter, the lowest level since Q1 2012, the Central Bank of Armenia reported.

Consumer confidence index dropped by 3.3 percentage points in the period compared to the first quarter of 2013 and by 1.1p.p.against the quarter before, according to the Central Bank.

Indicator of the current conditions reduced by 2.3 percentage points to 31.5 in Q1 compared to the quarter before, due to decrease of all three components. In particular, major procurement indicator dropped by 2.2p.p. to 50.8 in the reporting quarter, the indicator of financial status changes slid by 2.2 p.p. to 28 and the one used for assessing households against the general economic status reduced by 2.5p.p. to 15.9.

Indicator of future conditions remained unchanged against the quarter before – at 50. Some components of this indicator, particularly financial change expectations and family employment expectations have dropped. In particular, financial condition change expectations were at 44.6 in the reporting quarter, a reduction of 0.4p.p. over the first quarter, while family employment expectations decreased by 0.8p.p. to 51.5.

Indicator used for assessment of major procurement expectations by households in the coming quarter rose by 1.5 p.p. to 54.1.

Consumer confidence index is a composite index reflecting perceptions of participants for economic changes (both improvements and deterioration).

Since 2005 the Central Bank of Armenia has been conducting polls among non-financial and financial organizations and households to assess changes in the current economic conditions, evaluate expectations, calculate and release composite economic indexes. –0--

14:21 14.05.2014

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