The slowdown in global demand along with flat commodity prices has been hurting Russia's exports recovery. In the first quarter of 2013, shipments fell by 5.2 percent yoy. |
|
Consumer confidence declined throughout 2012 and remains feeble at -7 in the first quarter of 2013. In April, retail sales growth slowed to 4.1 percent yoy, from 4.4 percent in the previous month.
|
In April, inflation rate increased slightly to 7.2 percent. Since the CPI is above 5 to 6 percent target set by the Central Bank of Russia, interest rate cuts are unlikely in the next few months. |
|
Russian industrial-output growth has been slowing down as a stalling economy and weakening exports hurt demand. In April, industrial production grew 2.3 percent yoy after 2.6 percent increase in March. |