The cautious recovery in July 2024 turned into a strong increase in the Consumer Sentiment Index in August.
The index of consumer sentiment of Ukrainians in August 2024 increased by 10 points and is now at 80.0 points. Thus, the consumer sentiment of citizens has improved significantly after a long period of pessimism. This is confirmed by data from a monthly study by Info Sapiens.
The current situation index rose to 58.1 points, which is 4.3 points higher than the level of this indicator in July. The index of economic expectations increased by 13.7 points and reached 94.6 points.
In August, the index of the expected dynamics of unemployment decreased by 6.3 points and reached 118.8 points The index of inflation expectations decreased by 4.8 points and reached 183.1 points The index of devaluation expectations decreased by 7.3 points and reached 162.5 p.
“The cautious recovery we saw in July 2024 translated into a solid increase in the Consumer Sentiment Index in August which is also improving.
At the same time, these cannot yet be considered indicators of economic recovery, due to the long and unpredictable course of the war. Instead, we are seeing a recovery in consumer sentiment and economic expectations after a significant increase in negative sentiment that occurred in late spring and early summer,” the analysts commented.
The consumer sentiment index in Ukraine is determined based on a sample survey of households in the country. The study surveyed 1,000 people aged 16 and over.
The value of the indices ranges from 0 to 200. The value is 200 if all citizens assess the economic situation positively. The index is equal to 100 when the shares of positive and negative ratings are equal. An index value of less than 100 means that negative assessments dominate the society.
Why has Ukrainian consumer sentiment worsened?
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.