Retail sales in Russia increased 2.0 percent year-on-year in February of 2019, accelerating from a 1.6 percent rise in the previous month and above market expectations of 1.4 percent. Sales rose faster for food products (2.3 percent from 2.1 percent in January) while those of non-food products fell further (-6.1 percent from -6 percent). On a monthly basis, retail sales went down 2.4 percent after a 25.3 percent drop in the previous month. Retail Sales YoY in Russia averaged 4.38 percent from 1994 until 2019, reaching an all time high of 18.80 percent in February of 2008 and a record low of -16 percent in January of 1999.
Retail Sales YoY in Russia is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Russia to stand at 1.60 in 12 months time. In the long-term, the Russia Retail Sales YoY is projected to trend around 2.40 percent in 2020, according to our econometric models.