MOSCOW, March 20. /TASS/. The Consumer Sentiment Index reflecting overall consumer expectations of households gained 6 percentage points (pp) quarter on quarter in the first quarter 2024 and stood at minus 7%, according to the Russian state statistical service.

The share of respondents positively assessing changes in the Russian economy during the next twelve months increased by 5 pp quarterly in the first quarter of 2024 to plus 27%. The share of neutral estimates added 4 pp to plus 48%. The share of negative estimates lost 8 pp to plus 24%.

"The consolidated consumer sentiment index has almost returned to 2014 figures. It is critical that growing demand of the population for purchases of goods and services was supported by development of the economy of the offer in key industries," research fellow of the Institute of Applied Economic Research Konstantin Tuzov told TASS in a comment.

The main conclusion that can be drawn is that the consumer demand will remain stable in the midterm to support the economy, the expert said. "Growth in real salaries will be the main factor stimulating the demand," Tuzov added.