Russian retail-sales growth unexpectedly slows
Russian consumer spending grew slower than economists estimated adding to evidence the economy of the world’s biggest energy exporter is decelerating. Retail sales grew 4.1% in April from a year earlier, down from 4.4% in March, the Federal Statistics Service said Friday in a statement. That missed the median estimate of 18 economists for a 4.5% increase. Unemployment fell for a third month to 5.6% from 5.7%, missing the 5.5% forecast in a separate poll. Gross domestic product expanded at the weakest pace in the first quarter since the economy began growing again at the start of 2010. Expansion in the first quarter was 1.6% from a year earlier, according to the statistics service, higher than the ministry’s forecast for a 1.1% advance. Consumer-price growth accelerated to 7.2% in April, more than a percentage point above the central bank’s target range.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.