Retail sales in Russia accelerated and unemployment stagnated at a historic low

Retail sales growth accelerated to 6 percent in November, up from 5.2 percent in October, according to data posted on the Russian statistics agency’s website. Analysts had expected a slower 5 percent growth for November.

In the first 11 months of this year, Russian retail sales grew 7.4 percent year-on-year, following a 7.5 percent annual growth in the first ten months.

In November, retail sales of food, including beverages and tobacco products, grew 5.2 percent year-on-year, the same as in October. Non-food sales growth accelerated to 6.8 percent from 4.7 percent in October.

According to experts, retail sales in Russia will grow by 7 percent and according to government forecasts, by 8.6 percent this year as a whole, compared to last year, when it expanded by 6.4 percent.