1. Market Research
  2. > Retail Market Trends
Russia Country Report Jun17 - June, 2017

Russia Country Report Jun17 - June, 2017

  • July 2017
  • 108 pages
  • ID: 4977704
  • Format: PDF
  • By Emerging Markets Direct Media Holdings

Summary

Table of Contents

Russia's economic recovery gathered pace in the first quarter ending with 0.5% growth, bring the two year long recession to an end. The economy is on track to finish this year in the 1%-2% range.



However, this growth is still well below potential which has promoted the government to have another stab at reforms. Formally, the discussion of reform drafts started on 30 May when President Putin called a special meeting at which the two opposing camps of Boris Titov and former finance minister Kudrin presented their versions.



The main takeaways: Expect a protracted discussion as the Kremlin, which has presidential elections looming, wants to manage the process - both in timing and the content - to avoid disenfranchising elements of the electorate. Of greater concern -- and what will almost certainly happen -- is the Kremlin will chooses the 'middle option' to ensure social and economic stability for a few more years, albeit at the expense of wider social stagnation and a deeper degradation of the economy. Twelve months ahead of the presidential election the Kremlin has already decided to hike public sector wages, which affects about half the population directly and indirectly.



Still, despite the US attempt to slap new sanctions on it May (as yet unconfirmed) May was all about economics. The macro statistics for May were strong, driven by a 0.7% y/y increase in retail trade, which has been decline for two years, and a 5.6% y/y jump in industrial production coupled with a 3.8% y/y rise in construction.



The continuing recovery in retail (0.7% m/m) and corporate lending will provide support to growth going forward. The watch area over the coming months is forex market volatility and its possible implications: it could give a short-term boost to consumption.



May consumption-related statistics exceed expectations. Nominal salary growth was strong at 7.9% y/y in May and it was substantially upgraded for April - from the initial figure of 6.7% y/y to 8.0% y/y. The slow inflation rate, which has remained at 4.1% y/y in recent months (April-May), has translated into fast real salary growth - which has remained above 3.0% for the past three months and is combined with a lower-than-expected unemployment rate of 5.2% y/y in May (versus 5.3% a month earlier). All in all, the retail statistics confirm the CBR concerns expressed in the recent policy rate release: that tight labor market supply creates a risk of the economy overheating.



Another positive development is that recovery took place not only in retail, but also in the real sector, while there it looks less sustainable. Industrial production grew by 5.6% y/y in May and it is up 1.7% y/y in 5M17 -- attributed to the unusually cold weather effect playing in favor of strong growth. That said, the construction sector has also delivered a strong pick-up in activity in May, when volumes rose 3.8% y/y, and we attribute this favorable trend to budget stimulus: in May, expenditures jumped 13% y/y versus 3% y/y growth in 4M17.



Lending activity continued to improve in May, but is still anemic. concern over a very strong recovery in consumption-related indicators is reinforced by the continuing recovery in retail lending. Retail loans grew 0.7% m/m in May, accelerating to 4.6% y/y from 4.1% y/y in April. In the corporate segment, loan book growth, while being more modest, also improved to -1.8% y/y (adjusted for forex revaluation) versus the -4.1% y/y reported for April.



Finally, there is some uncertainty over the coming months as both oil prices and the ruble have been very volatile.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Hot Drinks in Poland

Hot Drinks in Poland

  • $ 2100
  • November 2019

Demand for healthy beverages, novelties and the tradition of tea consumption in Poland enabled hot drinks to record a marginal improvement in retail volume growth in 2019. Increasing disposable incomes ...

Hot Drinks in Hong Kong, China

Hot Drinks in Hong Kong, China

  • $ 2100
  • January 2020

Hot drinks recorded decent growth in retail value and volume in 2019 thanks to a strong hot drinks culture in Hong Kong. Traditionally, consumers in Hong Kong had a long history of regularly consuming ...

Operator business services: UK forecast 2019–2024

Operator business services: UK forecast 2019–2024

  • $ 3999
  • January 2020

"Operators must expand their portfolios to include more ICT services as business revenue from legacy services continues to decline."This report provides an outlook on the telecoms and ICT services market ...

Christmas in the UK - 2019 $ 3500 January 2020


Download Unlimited Documents from Trusted Public Sources

India Economic Analysis

  • November 2019
    4 pages
  • E-Commerce  

  • India  

View report >

UK Economic Analysis

  • November 2019
    2 pages
  • Retail  

    Retail  

  • United Kingdom  

    Europe  

View report >

Canada Economic Analysis

  • September 2019
    16 pages
  • Retail  

  • Canada  

    North America  

View report >

UK Economic Analysis 3 months ago


ref:plp2017

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on