Consumption vs. Savings: the Choice of Russians in the Conditions of Economic Instability 2015–2017

Abstract

The article analyzes the processes of consumption and savings by the population during the period of unstable economic conditions of 2015–2017. Data of official statistics and national sociological surveys have been used. Appeal to this topic is actualized by the fact that consumer and savings behavior are the primary markers of adaptation of the population to changing external conditions. It is shown that the structure of formation and distribution of income and ratio of income groups have not changed significantly. There is no cardinal reduction in savings in the form of bank deposits and consumption, considered through retail turnover. Self-assessments of consumption possibilities of population and Consumer Sentiment Index haven’t critically changed. Despite the protracted decline in real incomes, the population has become less negative about its life as a whole; the number of those who lack money or who cost cutting has decreased.