Russians have stopped saving on entertainment

Consumer sentiment among Russians has improved dramatically over the past 3 months, according to Sberbank's Ivanov Index. People continue to save on food, but they began to spend more on recreation and entertainment.

• Sentiment is improving due to "the absence of negative news flow" and revenue growth in the third quarter, explains the head of Sberbank Investment Research, Yaroslav Lisovolik. Last week, Rosstat indeed recorded an increase in the income of Russians by 3% at once, but economists doubted these data.

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• The indicators of personal well-being and the index for assessing the conditions for making large purchases have improved the most, Sberbank says. One of the reasons is the decrease in inflation, which affects the volume of savings.
• The share of those who limit their spending on vacation decreased from 43% to 38%, about 59% (-3 p.p.) still seek to spend less on eating out, to 50% (-4 p.p.) trying to save on entertainment.