OREANDA-NEWS. December 15, 2011. In the end of autumn 2011, deterioration of consumer confidence of Ukrainians was observed. The November consumer confidence index (CCI) is 74.3 which is 4.3 p. less than in October. The drop of consumer confidence was primarily caused by worsening of index of the current situation along with index of expected economic conditions in the country over the next five years. This is proved by the consumer confidence survey in Ukraine, conducted by GfK Ukraine on a monthly basis.

In November 2011 the Consumer Confidence index (CCI) decreased by 4.3 p. to 74.3.

Index of the Current Situation decreased by 5.7 p. to 73.4. The components of this index changed in the following way:
Index of Current Personal Financial Standing (x1) lost 4 p. and reached 71.4;
Propensity to Consume (х5) has fallen by 7.4 p. to 75.3.

Economic Expectations of the population decreased by 3.4 p. to 74.9. The components of this index changed as follows:
Index of Expected Changes in Personal Financial Standing (х2) lost 3.5 p. to 80.5;
Index of Expected Economic Conditions in the Country Over the Next Year (х3) decreased by 0.4 p. to 69.9;
Index of Expected Economic Conditions in the Country Over the Next Five Years (х4) lost 6.3 p. to 74.2.

At the same time, expectations regarding changes in unemployment continued to grow in November: the respective index reached 134 which is 1.3 p. lower than the index value in October. Moreover, optimistic inflationary expectations were observed: index value decreased by 1.8 p. to 185.

The following key trends were observed in November:
The deterioration was primarily caused by the worsening of the index of current situation along with the expected economic conditions in the country over the next five years. Index of current personal financial standing has decreased despite the lessening of inflationary expectations.
The most substantial decrease is observed in settlements with small and average population, Northern, Western and Eastern Ukraine along with the growth in Central and Southern regions which gain due to the record this year’s harvest and unblocked export of crops.

"The confidence of Ukrainians is stable pessimistic despite the retention of high rates of economic growth this year and decrease of inflationary rates. Obviously, people realize the temporary effect of the rich harvest and risks which accumulate in Ukrainian economics. This makes them being careful with heavy expenses”, as GfK Ukraine analysts comment.