The growth of retail sales accelerated in Russia

By: Trademagazin Date: 2023. 12. 01. 11:28

In Russia, annual growth in retail sales accelerated in October, while unemployment fell to a historic low.

According to data from the Russian Statistical Office, the growth of retail sales accelerated to 12.7 percent in October compared to 12.2 percent in September. The rate of annual growth was the most significant since May 2021 in October. On the other hand, in the average of analysts’ expectations, there was a slowing expansion of 11.2 percent for October.

The Russian Statistical Office also announced that unemployment fell to a historic low of 2.9 percent in October, after 3.0 percent in September. A year ago in October, the rate was 3.9 percent. Experts expected unemployment to be the same as the previous month’s 3.0 percent for October as well.

According to official data, the number of unemployed people in October was 2 million 224 thousand, 91 thousand less than in September.