CERR conducts a survey to study on consumer sentiment in Uzbekistan

CERR conducts a survey to study on consumer sentiment in Uzbekistan

The survey is conducted monthly. All citizens of the Republic of Uzbekistan aged 16 years and older can take part in it. This was reported by the public relations service of the Center for Economic Research and Reforms under the Presidential Administration of Uzbekistan

In Uzbekistan, measures are being taken to monitor the processes of the influence of coronavirus on the socio-economic situation of the population, including by assessing the effects of measures taken to mitigate the effects of coronavirus. In particular, the CERR is tasked with building the Consumer Sentiment Index.

CERR, in cooperation with IT Park, has developed a telegram bot, which consists of 8 questions. The survey is conducted to determine the trend of consumption and consumer expectations for some economic indicators of Uzbekistan.

The survey results will play the role of an economic barometer with the goal of determining the economic sentiment of the population and predicting development trends by identifying consumer expectations for the future.

Today, many countries are creating coordination mechanisms to continuously monitor socio-economic processes during a pandemic and develop appropriate responses. For example, in Austria, the Ministry of Economics and Digitalization has created a working group to monitor the impact of COVID on the economy. In Denmark, the government, in collaboration with the business sector, has created the “Government and Business Group”, which is authorized to discuss possible temporary and targeted measures that can solve current problems. In France, regional task forces have been created along with state development banks to accelerate enterprise support measures.

In these countries, this index has become such an important part of the national economic dialogue that many believe that consumer sentiment has a specific and widely agreed definition. However, determining consumer sentiment remains elusive, as consumer sentiment can never be directly observed; only consumer behavior can be observed.

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