Retail sales growth accelerated in Russia, unemployment stagnated

The Russian statistics agency reported on Thursday that retail sales growth accelerated to 1.9 percent year-on-year in April from 1.3 percent in March. Analysts had expected retail sales growth to accelerate even more significantly, to 3.1 percent.

Retail sales in Russia grew by 7.2 percent last year.

The statistics agency also said that unemployment stagnated at a historic low of 2.3 percent in April. Analysts had expected an upwardly revised rate of 2.4 percent in April.

There were 1.709 million unemployed people in April this year, down 21,000 from March.