Russia Sees Biggest Decline in Wages, Retail Sales Since 1999
Russian wages and retail sales declined by the most since 1999, a sign consumer demand will remain a weak link in the economys efforts to break out of its first recession in six years.
Real wages fell 10.9 percent in October from a year earlier, a deeper contraction than the median estimate by economists for a 9.7 percent decrease, the Federal Statistics Service in Moscow said Thursday in a statement. The office revised down Septem ...
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