Russia: Retail sales expand in July
August 20, 2011
In July, retail sales expanded 5.6% over the same month last year, in line with a similar expansion recorded in June and slightly below market expectations of a 5.7% rise. On a monthly basis, retail sales increased a non-seasonally adjusted 3.0% over the previous month (June: +1.2% month-on-month). Despite the monthly improvement, annual average retail sales decreased from 6.7% in June to 6.5% in July, in line with the downward trend in place since March this year.
Author: Armando Ciccarelli, Head of Data Solutions