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November 24 – November 30, 2014

Retail sales down to level of 2013

The situation has not changed
Retail sales down to level of 2013

According to the National Statistics Committee, in October 2014 the retail trade turnover increased by 1.7% compared with October 2013, which is the lowest growth in 2014.

These figures reflect the general downward trend in consumer spending caused by a decline in wage growth and outstripping growth in utility prices observed since July 2014. The average check in the grocery retail sector is expected to continue to decrease. Consumers might revise their spending towards increasing the share of food products. Competition between the retailers might heat up and goods from the medium price segment might be replaced with budget goods.

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