In Russia, retail sales growth is accelerating and real wage growth is declining

Instead of the significant slowdown expected by analysts, retail sales growth in Russia accelerated in March, while real wage growth slowed.

The Russian statistical office announced on Monday that retail sales grew by 5.6 percent year-on-year in March. Analysts expected more modest growth of 2.6 percent following the 4.6 percent expansion in February. (MTI)