Russia’s unemployment stays at record 2.4% low in 2M25
18 hours ago
Ukrainian retail sales accelerated to 4.2% year-on-year growth in real terms in 7M20 from 3.0% y/y growth in 1H20, Ukraine’s State Statistics Service reported on August 20.
In July, retail sales increased 8.5% y/y (vs. a 1.4% y/y growth in June), and advanced 12.1% month on month in real terms.
Regionally, the highest retail growth in 7M20 occurred in Kyiv (12.1% y/y), Zaporizhzhia (11.4% y/y) and Chernihiv (9.3% y/y) regions. The major outsiders were Zakarpattia (-9.9% y/y), Chernivtsi (-7.2% y/y), Rivne (-0.8% y/y) and Lviv (-0.6% y/y) regions.
“Ukraine’s retail sector continues growing quickly, and this confirms the observation that the changes in the disposable income of Ukrainians as a result of the coronavirus crisis have not been significant enough to reduce their consumption behaviour. In this regard, the recent government decision to hike the minimal wage by 20-30% in 2021 does not look like a good idea, as it aims to stimulate a factor which is not depressed at all,” said Evgeniya Akhtyrko. "The positive trends in trade might serve as the single offsetting factor to the economic recession, since the situation in other sectors does not look promising.”
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