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Market insight 19.02.2018

Encouraging economic data in Russia

Encouraging economic data in Russia

Russia: Retail sales (Jan.): 2.8% y/y vs 2.4% expected (prior: 3.1%)

  • The increase in minimum wage this year, decreed by Putin starting in January, low inflation (2.2% in January, a record low) and relatively strong labor market-conditions should bolster consumption this year.
  • This should help the economic momentum to pick up.

 

Russia: Real wages (Jan.): 6.2% y/y vs 5.0% expected (prior: 6.2% revised from 4.6%)

  • Annual increase in real wages remains at the highest since 2013.

Russia: Disposable income (real) (Jan.): 0.0% y/y vs -0.5% expected (prior: -1.4% revised from -1.8%)

 

Russia: Unemployment rate (Jan.): 5.2% vs 5.3% expected (prior: 5.1%)

  • The unemployment rate stood at 5.5% a year earlier.

 

Russia: PPI (Jan.): 0.1% m/m vs 1.3% expected (prior: 1.2%)

  • PPI y/y: 5.0% vs 6.4% expected (prior: 8.4%)

 


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