YEREVAN, June 23, /ARKA/. Consumer confidence index in Armenia was down 0.7 p.p. in the second quarter of 2013 from the first quarter to 43.3, the Central Bank of Armenia told ARKA.
Compared to the second quarter of 2012 it was down 3.9.%. The index of current conditions in the second quarter of 2013 fell by 0.9% from the first quarter of to 34.4.
The 0.7 percent growth was recorded only in sub-index used to assess large purchases.
The sub-index that assesses income changes dropped by 1.8 from the first quarter to 30.7, and the sub-index that assesses current economic conditions dropped by 1.7 points to 21.9.
According to the Central bank, the index of future conditions fell in the second quarter of this year compared to the first quarter by 0.4% to 52.2. Two sub-indexes, evaluating expectations in income changes fell by 1.3% and the sub-index assessing expectations in family employment fell by 2.4 points. The sub-index assessing expectations in large household purchases grew by 2.4 points from the first quarter to 57.8 points.
The Consumer Confidence Index (CCI) is an indicator designed to measure consumer confidence, which is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending. Since early 2005 the Central Bank of Armenia has been conducting quarterly surveys of non-financial, financial institutions and households to assess changes in current economic conditions compared to the previous period, to assess the economic expectations of the subjects under study and based on survey data to calculate and publish composite economic indexes. The surveys are conducted over the Internet, telephone, letter and fax. Based on the survey results indices of business environment, economic activity and consumer confidence are calculated on a 100-point scale. The score above 50 shows high activity and below 50 a low activity, and 50 a steady-state condition. -0-