Russian consumer demand growing – report ...News

Russia Today - Economy
Russian consumer demand growing – report
source : Russia Today ( News ) () 100
Higher real wages have been motivating households to spend more, statistics show Сonsumer demand in Russia has been growing steadily on the back of higher real wages and record-low unemployment, according to data from Russia’s Tax Service and statistics agency Rosstat. Statistics showed that in the third quarter of this year, households spent 81.9% of their income on goods and services, compared to 79% a year ago. Retail trade turnover in September rose 12.2% annually, surpassing market expectations and amounting to over 1 trillion rubles (over $44 billion). Data shows that retail sales, a key gauge of consumer de

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