Consumer confidence in Ukraine in August 2009 improved, according to a recent monthly survey conducted as a part of a joint project of GfK Ukraine Company and the International Center of Policy Studies (ICPS).
“August 2009 marked a resumption of the growth in optimism. The
consumer confidence index added six notches, growing to 63.2. It’s
interesting that the improvement of confidence came despite the
unstable state of the national currency, which continued devaluing.
Usually, a hryvnia devaluation causes an opposite reaction from
Ukrainians, spoiling consumer confidence,” reads the survey.
The ICPS said that Ukrainians’ consumer confidence has improved, as they at last felt some positive changes.
“One can say there has been a recovery of buying power and a
tendency to consume among Ukrainian citizens… At the same time, the
worsening of unemployment expectations by 11.4 notches, to 148.2, is an
alarming sign, which casts doubt on the duration of positive changes in
Ukrainians’ consumer confidence,” reads the release.
