Rosstat recorded the first rise in Russian real disposable income in January since October 2014. However, the bump was caused by a one-time payment to pensioners of RUB5000 (€81.69) in lieu of indexing their pensions.
Despite the grinding crisis and slowly falling real incomes of the last few years the average Russian is remarkably sanguine about their situation. The propensity to protest remains remarkably low by historical standards and continues to fall slowly.
A Levada Center survey conducted in January found that 78% of Russians believe the country is in an economic crisis, an increase from 74% in September.
A wave of Russian IPOs could be gathering momentum out to sea after toy store Detsky Mir led the way earlier this month. A total of some $1.9bn worth of securities have been issued in about three months.
Russia will be the biggest economy in Europe by 2050, consulants PwC said in a report on February 7 in its latest instalment of “The Long View: How will the global economic order change by 2050.”
The disinflation trend in Russia continues steadily after CPI was curbed to 5.4% in 2016.
Russia's retail trade turnover in December contracted by -5.9% year-on-year, markedly worse than consensus expectation of 3.7% y/y decline.
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