Russia: Retail growth slumps
Receipts at merchants rose 3.8 per cent from a year earlier, the slowest pace since February 2010, after a 4.4 per cent increase in September, the Federal Statistics Service in Moscow said in an emailed statement on Tuesday.
The economic figures "can be linked to slower growth in incomes, wages and a relatively high level of the inflation rate," Alexander Morozov, chief economist for Russia at HSBC Holdings Plc in Moscow.
Source: gulfnews.com
