Russia: Retail sales pick up in August
September 19, 2011
In August, retail sales expanded 7.8% over the same month last year, which was above the 5.7% increase recorded in the previous month and marked the strongest result since August 2010. On a monthly basis, retail sales increased a non-seasonally adjusted 3.8% over the previous month (July: +2.9% month-on-month). Despite the improvement, annual average growth in retail sales inched down from 6.6% in July to 6.5% in August, in line with the downward trend in place since April this year.
Author: Armando Ciccarelli, Head of Data Solutions