Retail sales growth accelerates in Russia, unemployment at historic low

By: Trademagazin Date: 2025. 10. 02. 09:40

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The annual growth of retail sales in Russia accelerated, while unemployment fell to a historic low in monthly terms in August, according to the statistics office.

The annual growth of retail sales accelerated to 2.8 percent from 2 percent in July, exceeding the 2.3 percent in the average analyst expectations.

In the first eight months of this year, retail sales grew by 2.2 percent in annual terms.

Retail sales of food, including beverages and tobacco products, increased by 1.5 percent in August compared to the same period last year, which is a slowdown compared to the annual rate of 2.4 percent in July. In the first eight months of this year, the growth rate was 2.4 percent.

Non-food retail sales expanded by 4.2 percent in August after an annual rate of 1.6 percent in July, and increased by 2 percent in January-August.

Unemployment fell to a historic low of 2.1 percent in August from 2.2 percent in July. The rate was higher in August last year, at 2.4 percent. In August this year, there were 1 million 592 thousand unemployed people in Russia, 58 thousand fewer than in July.