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Consumption Rises in Russia in January

6 Mar 2020

• 6 Mar 10:08

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Both Russian households and corporates showed signs of a modest recovery in activity in January,INGanalysts said in areport, noting however that a further forecast is clouded, as it is unclear if more generous budget policy expected in 2020 can offset the potential negative effect of the coronavirus epidemic. Russian retail trade growth accelerated from 1.9% year on year in December 2019 to 2.7% in January 2020, ING Think said, naming December’s above-expected income growth as a potential reason for such an outperformance. Real salaries growth amounted to 6.9% year on year in December with the most notable growth in construction, trade, transport, finance. Read more...