Russia saw a slowdown in consumer activity in April-June. They slowed from 9.8% in February to 5.6% in June.
But experts believe that it is too early to draw conclusions about the decline in high consumer activity. The trend may manifest itself in the second half of 2024.
The Ministry of Economic Development assesses consumer activity through the indicator "total turnover", which includes retail trade, paid services and catering. The indicator has been slowing down since the end of winter.
Thus, there is an overall decline in the pace of growth: from 12.6% in the third quarter of 2023 to 6.5% in the second quarter of 2024. The data were cited by the Ministry of Economic Development and the Center for Macroeconomic Analysis and Short-term Forecasting (CMACP), wrote RBC.
A similar trend is demonstrated by consumer spending, which fell from 9.9% in February to 5.5% in June. In quarterly terms, they also fell from 12.5% to 6.6%, respectively, confirming the slowdown in consumer dynamics.