In Russia, retail sales slowed down

By: Trademagazin Date: 2024. 08. 29. 11:01

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In Russia, the annual growth of retail sales slowed for the fifth month in July, while the expansion of industrial production accelerated and unemployment stagnated at a historic low.

According to the data published on the website of the Russian Statistical Office, the growth of retail sales decreased to 6.1 percent in July after 6.3 percent in June. In the average of analysts’ expectations, there was a significantly slower growth of 5.4 percent for July.

The increase in retail sales was 7.5 percent in May, 8.3 percent in April, 11.1 percent in March, 12.3 percent in February, and 9.1 percent in January in an annual comparison.

In the first seven months of this year, Russian retail turnover increased by 8.4 percent compared to the same period last year.
In July, the retail turnover of food, including beverages and tobacco products, increased by 5.9 percent year-on-year, compared to 5.3 percent in June. The increase in turnover of non-food products slowed to 6.2 percent from June’s annual 7.3 percent.