Russia: Retail sales remain strong
November 21, 2011
In October, retail sales expanded 8.8% over the same month last year. The reading was slightly below the 9.2% expansion recorded in the previous month, which had marked the strongest result since October 2008, but the print still beat market expectations of an 8.6% rise. On a monthly basis, retail sales expended a non-seasonally adjusted 2.8% over the previous month (September: -0.4% month-on-month). Despite the moderation in annual figures, the trend continued to pick up, with annual average growth in retail sales inching up from 6.6% in September to 6.8% in October.
Author: Armando Ciccarelli, Head of Data Solutions