Inflation was 4.6% y/y in February, according to Rosstat, down from 5% in January and in line with expectations
After rising strongly in the second half of 2016, the Watcom shopping index got off to its worst start in three years in the first weeks of 2017.
Capital flight finally reversed in January with the first positive inflows of $2.4bn for the first time since the third quarter of 2015. And even that was only a temporary blip. Russia has been bleeding money every year since 2008.
Growth in both output and new orders moderated in February, and although the expansion remained solid, this puts into question the strong start of 2017 for Russia's industry.
Rosstat’s data release for January 2017 turned in a pleasant surprise for Russia, with retail sales turnover falling by the least since the start of 2015 and big upward revisions for both nominal and real wages.
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