The seasonally adjusted IHS Markit Russia Services Business Activity Index recovered to 35.9 in May, up from April's nadir of 12.2. Although the index bounced back it is still deeply in the red and at its second-lowest value since early 2009.
Governments continue to lift restrictions but there are warnings over a surge in new infections in Armenia, Iran and North Macedonia.
A third (28%) of Russians are ready to participate in a mass protest against falling living standards, according to independent pollster the Levada Center in a survey released on June 1.
The IHS Markit Russia Services Purchasing Index (PMI) was up slightly to 36.2 in May from 31.3 in April, but still well below the 50 no-change mark, as the services sector has been crushed by the coronacrisis.
Real wages in Ukraine dropped 0.4% y/y in April, after growing 9.3% y/y growth in March, the State Statistics Service reported on May 28. The average monthly nominal wage declined to UAH10,430 a month ($383) from UAH11,446 in March, -9.6%.
Steady growth in new cases in several countries despite easing of lockdowns, numbers pushed up by outbreaks at industrial plants.
Russia’s April lockdown hit the statistics this week, after Rosstat reported that retail sales were down a massive 23.4% year on year and unemployment almost doubled in the month, the state statistics agency said on May 27.
The average income in Ukraine has been rising steadily in recent years and rose from a mere UAH6.659 ($221) in January 2017 – making Ukrainians the poorest people in Europe – to almost double to UAH10.727 ($439) this January.
In January-April 2020 Belarus industrial output declined 3.8% year on year as the double whammy of the oil price collapse and the coronavirus stop-shock hit home.
In January-April 2020 Belarus industrial output declined 3.8% year-on-year as the double whammy of the oil price collapse and the coronavirus stop-shock hit home.
Industrial production in Ukraine in April 2020 fell by 16.2% year on year, compared with the March drop of 7.7%, February’s fall of 1.5% and January’s contraction of 5.1%, the State Statistics Service said on May 23.
Slowdown in new cases in Eastern Europe, while lockdowns already being lifted in Central and Southeast Europe.
Amazingly In April, Russia maintained double surpluses in its external accounts with a trade surplus of $3.5bn ($35.6bn in 4M20) and a current account surplus of $1.8bn $23.5bn 4M20) despite the catastrophic collapse in oil prices.
Sales of passenger cars and light commercial vehicles (LCVs) in Russia in April 2020 are the latest victims of the coronavirus (COVID-19) crisis with sales crashing by 72% year-on-year in April, according to the report by the AEB
Inflation in Ukraine slowed to 2.1% in April year on year from 2.3% in March, according to the State Statistics Service. Month-on-month inflation remained flat at 0.8% compared to March.
Russian President Vladimir Putin’s approval rating has slipped to its lowest level in more than two decades of 59% in April from 63% in March, according to independent pollster the Levada Center.
The number of unemployed people in Russia may grow to 5-7mn people in 2020 due to the stop-shock caused by the coronavirus (COVID-19) lockdown, says Alexander Safonov, Vice-Rector of the Financial University.
Ukraine’s economy will contract sharply in the second quarter of this year, says the National Bank of Ukraine (NBU), before gradually recovering, but average growth will end 2020 with a 5% contraction.
Russia now has the world’s second-fasted growth of COVID-19 cases after the US, with Moscow at the epicentre of the outbreak.