Retail sales in Russia increased 1 percent from a year earlier in July of 2019, easing from a 1.4 percent rise in the previous month and below market expectations of 1.5 percent. It was the lowest gain in retail trade since April of 2017, as sales slowed for both food (1 percent from 1.4 percent in June) and non-food products (1 percent from 1.5 percent). On a monthly basis, retail trade climbed 2.3 percent, up from a 1.6 percent advance in June. Retail Sales YoY in Russia averaged 4.34 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 1.50 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 1.80 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.